XAU & HUI Reversing Daily Trends
XAU & HUI Reversing Daily Trends;
Gold & Silver Poised for Spike Low..
Oct. 5 – 6 = Decisive Days for Metals!
10/04/17 Weekly Re-Lay Alert – Stretching to the Extremes:
“Gold & Silver have dropped sharply after confirming multiple factors that pinpointed early-Sept. for a multi-week – and possibly a multi-month – high. They were – and still are – projected to decline into a potential intermediate low in the first half of October…
From a daily perspective, Oct. 5 – 10 is the ideal time for this low – so it could occur in either the end of this week or the early part of next week.
A low in the current week would perpetuate a 12-week high-low-(low) Cycle Progression & complete a 50% correction in time (8 weeks up/4 weeks down). [In addition, if Gold sets a low on Oct. 2 – 6, it would project an ensuing ~12-week advance into late-Dec. – the convergence of monthly cycles described in the Oct. 2017 INSIIDE Track.]…
The XAU fulfilled its potential for a sharp drop from Sept. 8/11 into Sept. 21/22 and has consolidated since then, briefly spiking to a new low on Oct. 2.
It has twice neutralized its weekly uptrend but would need a weekly close below 84.38/XAU to reverse the weekly trend to down. Conversely, the XAU should NOT give a weekly close below 84.38 if it is to maintain any potential to enter a new wave higher in 4Q 2017.
The impact of the new intra-month trends – in the XAU & HUI – is magnified by their respective daily trend patterns. Both indexes have twice neutralized their respective daily downtrends. It would take daily closes above [reserved for subscribers] to turn the daily trends AND the new intra-month trends up.
If that occurs, it would increase the likelihood that a multi-week bottom is in place.”
Gold & Silver fulfilling outlook for multi-week correction into early-Oct. Low most likely on Oct. 5 or 6. Silver maintains downside target range at 16.265 – 16.390/SIZ. Gold Stocks (XAU & HUI) already showing signs of bottoming BUT MUST reverse daily trends up to confirm. Oct. 9 – 27 setting up as unique period – in and out of the markets. Cycles in precious metals, Dollar & Euro, equity markets, bonds & notes all corroborate!
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.