Silver Fulfills Major Cycle Low (March 12 – 16)! XAU Concurs. Gold Bottoms at 1450/GC Target.
03/21/20 Weekly Re-Lay: “Gold & Silver plunged with Silver fulfilling a myriad of cycle lows while Gold plummeted right to its downside target…
Gold & Silver plunged after Gold spiked to new highs and fulfilled weekly, monthly, and larger cycles that peaked in early-March ‘20. That was forecast to spur a sharp correction back to ~1450.0/GC (see March ’20 INSIIDE Track).
Gold just plummeted to 1450.9/GCJ – fulfilling the primary downside price projection for this drop from early-March… a substantial rally could unfold soon. Metals bottomed in sync with daily cycles that forecast a drop into March 13/16 – the latest phase of a 10 – 11 trading day low (Jan. 14) – low (Jan. 29) – low (Feb. 12) – low (Feb. 28) Cycle Progression coinciding with other cycles.
However, Silver was bottoming in sync with far more significant cycles, most of which are linked to it’s uncanny web of 7-week-related cycles…
March 16 – 20, 2020 is the culmination of a 70-week low (July 10 – 14, ’17) – low (Nov. 12 – 16, ’18) – low Cycle Progression.
March 16 – 20, 2020 is also the latest phase of a 14-week low (July 10 – 14, ’17) – high (Feb. 18 – 22, ’18) – low (Nov. 12 – 16, ’18) – high (Sept. 2 – 6, ’19) – low (Dec. 9 – 13, ’19) – low Cycle Sequence.
March 16 – 20, 2020 is the midpoint of the 28-week low-low-low-(low) Cycle Progression that helped pinpoint the Dec. 9 – 13, ‘19 low and ushered in the bullish period into late-Feb. ’20.
March 16 – 20, 2020 is also the fulfillment of an overlapping 28-week high (Feb. ’19) – high (Sept. ’19) – low Cycle Progression.
March 16 – 20, 2020 is also the fulfillment of a 7-week high-high-low-(low) Cycle Progression that was discussed in mid-Dec. and late-Jan. – when the two preceding lows were forecast.
A low on March 16 – 20, 2020 would divide this 7-week web of cycles and the overall 70-week low-low-low cycle into a proportional 42 weeks up & 28 weeks down.
And, on a much larger basis, a low in March 2020 would provide some important symmetry to the past decade – fulfilling a 51-month high-low-(low) Cycle Progression.
With Silver spiking below 12.00/SI (setting its lowest daily close below 11.80/SIK), it ushered in the time for longer-term traders and investors to begin buying Silver or related stocks…
The XAU fulfilled the potential for a sharp drop into March 12 – 16 – the latest phase of a ~60-degree/ ~2-month low (Sept. 13/16) – low (Nov. 12) – low (Jan. 14) – (low) Cycle Progression. That comes after this index finally attacked its 1 – 2 year upside target (~110.0/XAU) in late-Feb., ushering in what was expected to be a larger-magnitude drop…
As it has done repeatedly over the past decade, the XAU sold off far more sharply (on a proportional and wave-structure basis) than Gold has. It tested its monthly HLS (extreme downside target) and spiked down to 6 – 12 month support at 66.00/XAU – attacking the lower end of its ~4-year trading range.”
Gold, Silver & gold stocks (XAU Index) reversing higher after fulfilling downside objectives with Gold plunging to 1450.0/GC target as Silver & XAU fulfill decisive multi-month cycle lows on March 12 – 16. Next phase of 2020/2021 outlook underway.
How Quickly Could Gold, Silver & XAU Surge?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.