Gold & Silver Cycle Low Approaching
Drop into July 17th Still Likely…
Spike to Multi-Year Lows Necessary.
07/08/15 Weekly Re-Lay Alert: “Gold & Silver are now in the month (July 2015) when a Major bottom is cyclically most likely. Silver has spiked to new multi-year lows – on a contract basis – retesting its multi-year downside objective around 14.650/SI. Gold is expected to spike below its March 2015 low – and ideally below its Nov. 2014 low – before a bottom takes hold.
Ideally, that would occur during the latest phase of a 17–18 week high-high-low-low-(low) Cycle Progression – that pinpoints July 13–17th as the ideal week for a bottom. A drop into July 13–17th would also complete successive, 8-week declines in Gold – from mid-Jan. into mid-March & from mid-May into mid-July.
That (potential) 8-week decline was corroborated by the June 18th high – creating a 4-week high-high-(low) Cycle Progression also targeted for July 13–17th. These related ~30-degree & ~60-degree swings (March 18th–May 18th–June 18th) target July 17th for an intermediate turning point… ideally a low.
The weekly 21 MARC continues to validate this scenario… as does the weekly HLS. That was tested & held in Silver, projecting a multi-month low between now and July 13–17th.”
July 17th (+ or – 1 trading day) remains the ideal date for a MAJOR bottom in Gold & Silver. Gold still needs to spike to new multi-year lows – potentially to Major support (~1087.0/GC… see June 2015 INSIIDE Track) – before a bottom would become more likely. Weekly 21 MARCs could turn positive on July 27–31st.