Silver Failure Validates Gold Peak!
03/19/16 Weekly Re-Lay: “Gold & Silver have entered what is expected to be a volatile period – extending into late-April/early-May – with an important low expected on April 4–8th or April 11–15th. [See March 2016 INSIIDE Track for related charts & analysis.] Other metals – and the XAU – could stretch that low as late as April 19th.
Gold & Silver continue to trade near their highs, but without creating any follow-through to the upside – even when new highs are set. Both metals are showing signs of a ‘5th’ wave top (of an initial ‘1’ or ‘I’ wave higher).
Gold spiked to new highs on March 11th – perpetuating a 27–29 day low-low-high-(high) Cycle Progression, even as Silver waited to spike to new highs on March 17th & 18th. However, Silver did NOT give a weekly close above 1600.5/SIK… so it has still not turned its weekly trend up.
With Gold remaining in a neutral intra-month trend, this reinforces that consolidation remains in force and has throughoutMarch – despite brief spikes to new highs…set the stage for a quick, sharp correction in the coming weeks (with tests ofxxxx/GC & xx.xx/SI…) [Specific target levels & trading strategies reserved for subscribers only]…
The XAU has surged since intermediate cycles bottomed on Jan. 19th. It is expected to set a secondary low around April 16–19th and could soon enter an intervening pullback after testing key resistance levels.
The ideal setup for an intermediate peak was if it took hold on March 16–18th, setting the stage for a 50% retracement in time – leading into April 16–19th (~2 months up/~1 month down). That could be unfolding now…
Silver spiked to new highs – but again failed to follow-through – even as Gold set a lower high and is trying to reverse lower…it could trigger an accelerated drop to xxxx/GCJ…” TRADING INVOLVES SUBSTANTIAL RISK! See Hypothetical Disclaimer.
Silver’s weekly trend failure (on March 18th) reinforces Gold’s daily cycle high on March 11th, ushering in a bearish 2–4 week period. Watch March 21–25th for downside confirmation!