Silver – The ‘Weaker Sister’; Nov. ‘18 Lows Remain Decisive Downside Target (to Fulfill Feb. 22 Weekly Trend Sell Signal & Feb. 28 Monthly 2CR Sell Signal).
Silver – The ‘Weaker Sister’; Nov. ‘18 Lows Remain Decisive Downside Target (to Fulfill Feb. 22 Weekly Trend Sell Signal & Feb. 28 Monthly 2CR Sell Signal).
04/30/19 INSIIDE Track: “As detailed in the Feb. 20, 2019 INSIIDE Track Report: Gold & Silver 2019 – Cycle Crescendo?, an uncanny 55 – 59 week cycle – that previously pinpointed the late-Jan. ’18 peaks – was projected to time a multi-month peak in late-Feb./early-March.
Gold & Silver surged into Feb. 19 – 22, fulfilling weekly & monthly cycles while attacking decisive (extreme) resistance levels and upside targets – the culmination of their initial 3 – 6 month uptrends. That was projected to usher in a much sharper correction with Gold dropping to 1270.0/GC & Silver very likely to drop below 15.000/SI, potentially below 14.350/SI.
Two of three have been fulfilled with Gold spiking down to 1267.9/GCM on April 23 (producing its lowest weekly close in sync with the Date of Aggression and Week of Aggression)…
3 – 6 month & 6 – 12 month traders & investors could have exited long positions in Silver w/avg. overall gains of about $6,300/contract (in futures). Hold off on re-entering long positions at this time.” TRADING INVOLVES SUBSTANTIAL RISK!
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. The way in which those lows are tested will help determine what to expect for the rest of 2019.
When is Silver Likely to Exit its Doldrums? …And Enter a More Substantial Advance??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.