Gold & Silver Negative Until Sept. 10/11th
Nearing Optimum Retracement Support.
Surge into Sept. 21–25th Should Follow…
09/09/15 Weekly Re-Lay Alert: “Gold & Silver are both negative – on a 1–2 week basis – after rallying to their January (& year-opening) lows – support turned into resistance – where initial highs were expected.
Gold set its peak on Aug. 24th – ~30 degrees from its July 24th low and the culmination of a short-term 6-7 trading-day low-low-low-(high) Cycle Progression – and held intermediate resistance – as well as its weekly downtrend resistance – at 1165–1172.3/GCZ. (That ~30-degree low-highCycle Progression projects a subsequent high for ~Sept. 24th.)
That Cycle Progression produced a secondary high on Sept. 1st (6-7 trading days from the peak) and should produce a subsequent low on Sept. 10th or 11th. Gold turned its daily & intra-month trend down…and is now testing daily 21 MARC support… as well as weekly support.” [See 9/09/15 Alert for additional details.]