Gold is down another $25 this morning, while Silver is taking the heaviest losses of the Cycle. As Silver led the Cycle and has for the most part avoided any significant decline, this must now be the final decline into the 2nd DCL. Traders should focus on the opportunity at hand and ignore the severity of the decline. The Financial Tap members know that this remains a normal and expected decline; they’ve been following the last few Cycles play out to expectations. In the past weekend premium member report I wrote:
“Until the current Daily Cycle completes, the immediate trend remains to the downside. We are 3-5 sessions from a low in the current 2nd Daily Cycle. This event is within our framework of expectations; Daily Cycles have ended every 24-28 days for many decades. When the next Daily Cycle (the 3rd) gets underway, I believe that the bear case for Gold will diminish considerably, and we’ll see a rush into the metals that will drive price significantly higher. “
Today is the 3rd Day (since that report) and now within the expectations for a Cycle Low. Gold touched $1,357 (within my expected $1,350-60 range) this morning and within the timing band for a Cycle Low. Technically too this Cycle is not necessarily at oversold (Cycle Low) levels, but again deep enough for a bullish Cycle to qualify. So there is a decent chance that today will mark the DCL, but I still advocate that traders be patient getting overly long; DCL’s can get nasty and overshoot the mark to the downside.
Traders/investor should not lose sight of the bigger picture here; gold is still likely to exceed the $1,500 in the coming month. That's would mean a 3rd straight bullish Cycle with well over $100 gains, and that's where the opportunity lies! This report (Gold is Finally Ready to Launch) published over a month ago, outlines what unfolded in the prior Cycle along with the expectation for another big Cycle to come.
The Financial Tap publishes two member reports per week, a weekly premium report and a midweek market update report. The reports cover the movements and trading opportunities of the Gold, S&P, Oil, and $USD Cycles. Along with these reports, members enjoy access to three different portfolios and trade alerts. As these portfolios trade on varying timeframes (from days, weeks, to months), there is a portfolio to suit all member preferences.
You're just 1 minute away from profitable trades! If you’re interested in learning more about The Financial Tap and the services offered, please visit https://thefinancialtap.com/landing/try#
Free Report – Complete the form below