Silver & XAU Increase Odds for May 14 – 18 Metals’ Decline.
Silver & XAU Increase Odds for May 14 – 18 Metals’ Decline.
05/12/18 Weekly Re-Lay:
“The XAU has rebounded and turned its daily and intra-month trends up as it fulfilled projections for a rally back to 84.67 – 84.75 – where the XAU had dual weekly LHR levels (weekly extreme upside targets) converging, just above intra-year downtrend resistance at 84.57/XAU.
The XAU now enters a decisive period, initially signaled by a 17 trading-day low (Mar. 1) – high (Mar. 26) – high (Apr. 19) Cycle Progression that projects an ensuing high for May 14.
Another factor that is poised to re-assert some influence is the weekly 21 MAC & 21 MARC. The weekly 21 MAC has been heading higher although the upper end of that channel is at ~85.26/XAU.
Beginning on May 14, the weekly 21 MARC will begin to surge – potentially exerting a negative influence on the weekly 21 MAC and on price – as early as May 14 – 18 or May 21 – 25.
With the XAU just testing & holding its weekly LHR levels, that portends an intermediate top… the XAU could see a minor low set on ~May 21 – the next phase of a 19 – 20 day low (Feb. 9) – low (Mar. 1) – low (Mar. 20) – low (Apr. 9) – low (April 27/30) Cycle Progression.
The daily trend would dictate what to expect following that (potential) low…
Gold & Silver have rebounded – turning their intra-month trends up and bouncing into mid-May. Gold remains in a daily downtrend while Silver has twice neutralized its daily downtrend. It needs a daily close above 16.865/SIN to reverse that trend to up.
Silver rallied into May 11 – perpetuating a 21 – 23 day high-high-high-(high) Cycle Progression – and now enters a decisive 1 – 3 day AND 1 – 3 week period, due in part to the respective 21 MARCs (similar to the XAU)…
In order to prevent the daily 21 MAC from turning down, Silver needs to surge above 17.470/ SIN in the next 1 – 3 days.
In order to prevent the weekly 21 MAC from turning down, Silver needs to surge above 17.470/SIN in the next 1 – 3 weeks (and continue higher).
Combined with the daily trend pattern and daily cycles, these indicators increase the likelihood for a new sell-off in Silver in the coming week.”
Gold, Silver & XAU poised for new sell-off on May 14 – 18 – when Gold cycles converge. Watch the daily & weekly trend patterns to determine what to expect after May 18. See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.