How Metals’ Daily 21 MACs Could Soon Corroborate Daily Downtrends; Watch Action Leading into Cycle Lows on Nov. 8 – 13.
How Metals’ Daily 21 MACs Could Soon Corroborate Daily Downtrends; Watch Action Leading into Cycle Lows on Nov. 8 – 13.
11/07/18 Weekly Re-Lay Alert: Gold & Silver continue to build bases, after bottoming along with monthly cycles lows in Aug./Sept. 2018, but still need weekly closes above 1246.0/GCZ & 14.950/SIZ to reverse the weekly trends to up.
They remain in a range of congestion and are entering a 2 – 3 day period that should be decisive with respect to the daily 21 MACs. Those channels have been angling higher but will now see their inversely-correlated daily 21 MARCs jump higher in the coming days. If current price action is unable to keep up with those 21 MARC surges, the inversely-correlated 21 MACs would turn down…
The XAU remains in a different situation, having turned its weekly trend up and then entering a normal 1 – 3 week reactive decline. It needs to hold intermediate support (~63.75/XAU) in order to retain a good chance for a new rally into late-Nov./early-Dec.
In the interim, the XAU was/is expected to set a new 1 – 2 week (or longer) low on Nov. 9 – 13, the latest phase of a ~2-month/60-degree Cycle Progression.”
The negative daily trends could soon be reinforced by reversing (down) daily 21 MACs in Gold, Silver & the XAU – increasing the potential for additional spike lows into Nov. 8 – 13. IF certain criteria are met, and signals generated, that could subsequently trigger a sizeable 2 – 3 week rally into early-Dec.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.