Weekly Re-Lay Sent Out
Gold, Silver & the XAU did see a bounce into Sept. 24/25 and quickly reversed lower – on track for lower lows in the coming weeks…
Gold & Silver were expected to rally into Sept. 25 – in sync with daily cycles, daily trend patterns, daily 21 MARCs – and then resume their declines. They surged into Sept. 25 and then abruptly turned lower (after Gold had given two neutral signals to its daily downtrend) – fulfilling all of these factors and ushering in what was/is expected to be the next phase of a larger-magnitude, intermediate sell-off.
Reinforcing these cycles and the daily trend pattern was another significant indicator. Gold’s daily 21 High MARC resistance was at 1540.3/GCZ on the day Gold set its highest close. That close came at 1540.2/GCZ.
The daily trends are negative and projecting drops to new lows. With Gold’s recent peak, a ‘c = a’ wave target (new decline = initial decline) projects a drop to ~1467.0/GCZ. That is exactly where the previous high (July 19) resides – a pivotal level of ‘resistance turned into support’… that is also near where the ascending weekly 21 High MAC should be. So, it has th
