Silver Cycles – The ‘Weaker Sister’; Weekly Trend Signal & Monthly 2CR Sell Signal Projected Sharp Drop… Likely Plunge to Nov. ‘18 Lows.
Silver Cycles – The ‘Weaker Sister’; Weekly Trend Signal & Monthly 2CR Sell Signal Projected Sharp Drop… Likely Plunge to Nov. ‘18 Lows.
03/05/19 INSIIDE Track Intra-Month Update:
Gold & Silver peaked on Feb. 20, fulfilling a myriad of related cycles (55 – 59 week, 27 – 29 week, 13 – 14 week & 6 – 7 week), the largest of which have been in focus for over a year.
Validating those cycles (timing indicator), Gold peaked after surging to dual weekly LHR levels (extreme upside targets) at 1344.5 – 1345.2/GCJ while testing the monthly Raw SPR (1350.0/GCJ; t
At the same time, Silver retested its high (16.20/SIH) while twice neutralizing its daily downtrend. More significantly (and more negatively), Silver was unable to turn its weekly trend up while spiking into Feb. 20 cycles and then quickly re-entered its year-opening trading range (a negative factor).
As emphasized at the time, that was as high as Silver should rally if it was going to fulfill expectations for a plunge back to xx.xxx/SIH. ; Silver corroborated that by generating a subsequent monthly 2 Close Reversal lower on Feb. 28 – that projected downside follow-through…
That confirmed the cycle peak and increased the potential for a sharp drop…”
Silver remains the ‘weaker sister’ after peaking in lockstep with a myriad of weekly & monthly cycle highs (Feb. 19 – 22, 2019) and while signaling a textbook ‘failure’. Based on its weekly trend pattern, it should see a drop back to its Nov. ’18 low. That was reinforced with a monthly 2 Close Reversal lower on Feb. 28 – a sell signal that projects 2 – 3 months of downside follow-through.
What Should Silver Do Once it Retests its Nov. ’18 Low?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.