Lee AdlerAll cycles have entered or appear about to enter corrective down phases. Trend support is in the xxxx range for the week ahead. That needs to hold to keep the uptrend intact. If it holds, then a run to xxxx could follow. If it breaks, then a drop to support indicated around xxxx would be likely. But it is the long term charts that suggest that the greatest risk is building. There are no changes to miner swing trade chart picks, now showing average gains of 16% over 6 weeks.
Projections point to the xxxx range, which is where wave channel boundaries extend over the next month. Indicator patterns suggest an extended price, but not one ready to roll over yet. Miner swing picks show an average gain of 14.1% on an average holding period of 33 calendar days. There are no changes to the list this week.
Gold’s price is moving toward a test of projected intermediate term wave channel resistance in the xxxx range. Projections point to xxxx in September- October. The indicator patterns suggest the potential for an extended run.
Gold appears to be in a high base consolidation, which would normally lead to a breakout. Gold stocks are far stronger. Here’s what looks good, and what signals would suggest failure and danger.
While gold stocks have surged, the metal itself remains rangebound. A daily close above xxxx should trigger a big move. The Cycle Wave Composite has flipped to the buy side, suggesting the onset of an intermediate up phase with projections pointing as high as xxxx. However, it would not take much to abort the rally. A daily close below xxxx would suggest it.
While gold stocks have surged, the metal itself remains rangebound. A daily close above xxxx should trigger a big move. The Cycle Wave Composite has flipped to the buy side, suggesting the onset of an intermediate up phase with projections pointing as high as xxxx. However, it would not take much to abort the rally. A daily close below xxxx would suggest it.
Short-term cycles topped out on schedule. They appear to be joined by the 9-12 month cycle, with the 13-week cycle now dormant.
Short-term cycles are due to enter a down phase. Like last week, price continues moving sideways toward the apex of a triangle, with vague hints from the cycle and momentum indicators that the breakout will be to the upside toward a peak between xxxx and xxxx.
Gold’s technical picture shows mixed cycles as the price tests long term trend support. The latest analysis reveals key cycle confluences that should drive the next major move. Four mining picks are listed for the next swing.
Gold’s technical picture shows short-term cycles completing their bottoming process and aligning with longer-term upward momentum. The latest analysis reveals key cycle confluences that should drive the next major move. Multiple timeframes are getting in gear. I have chosen four mining stocks that look well positioned to take advantage of the next rally.
Gold’s technical picture is shifting as short-term cycles complete their bottoming process and align with longer-term upward momentum. After weeks of mixed signals where geopolitical events clashed with traditional cycle patterns, the latest analysis reveals key cycle confluences that could drive the next major move. With critical resistance levels approaching and multiple timeframes showing coordination, gold traders are watching for definitive breakout signals that would confirm the next phase of the precious metals rally.
Short-term cycles had been due to top, but instead have merely flattened or entered trending mode. Intermediate indicators are still in up phases with a 10-12 month cycle projection well above the recent high. The US attack on Iran now looks pro cyclical on those time frames.