Silver Projecting Second Surge Beginning May 4 – 8! Advance into 2021 Likely.
04/18/20 Weekly Re-Lay: “Gold & Silver reversed lower after fulfilling weekly & monthly cycles as well as a 10 – 12 trading day low-high-high-high-(high) Cycle Progression that forecast a continued rally into mid-April – when an intermediate peak was most likely.
Silver is now beginning to turn focus to the next phase of the 7-week high-high-low-(low) Cycle Progression that helped pinpoint the March 16 – 20 low. Silver is expected to set a secondary low on May 4 – 8, the next phase of that 7-week cycle that also timed previous lows in late-Jan. and early-Dec.
There are other factors reinforcing that potential…
Silver peaked along with intermediate cycles on April 14. If the current, developing decline matches the duration of its previous two declines in 2020 (21 & 23 days, respectively), it would spur a drop into May 5 – 7, precisely when that 7-week cycle comes back into play.
Increasing the likelihood of that potential, Silver rallied right to its descending weekly 21 Low MAC (16.23/SIK) and reversed lower….
Longer-term traders and investors could have bought Silver or related stocks around 12.000/SIK on March 16 – 20 and should now risk a weekly close below 13.80/SIK (use the futures as the trigger point for the risk on this metals’ position).
If looking to trade around this position, some of these longs could have been liquidated on April 15 and can be reestablished on May 4 – 8.”
Gold, Silver & XAU Index (Gold/Silver Index) confirming new bull market after bottoming in perfect sync with multi-month cycle lows on March 16 – 20. That was/is projected to spur new advances into late-2020 and likely into May 2021 with Silver gains likely exceeding Gold gains during that period. March 18 – 20 buy signal validated by recent action. Second buy signal set up for May 4 – 8. Accelerated gains should follow.
Why Should Silver Move in Closer Sync with Stocks in 2020/2021?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.