the projected target of 82.20 was met with a high of 82.50 in just 4 days.
long term target remains up at 85.48.
daily-
both cycle and trade pressures are down and they should end on 4-14. next target up is 83.25. a trade down thru 80.51 starts a new move down to 78.509.
Gold went to 1084.20 almost to our target of 1084. silver bounced off the short entry price. Platinum is trading around it short entry and palladium did trade down to its first target. All metals now are moving up, influenced by the dollar.
Gold-
Long term cycles remain down.
short term cycles are down thru 4-21. next downside target is 1053.
1110 triggers an even shorter cycle up move that should stop at 1136.
Silver –
long term cycles remain down.
while in a longer cycle uptrade from 16.43 to 18.188, it is trading between 16.55 and 17.64; until it breaks out it is a channel trade.
Gold –
Everyone wants gold to go up.
—the world is going to hell,
—the euro is collapsing
—and gold is the new “gold standard” currency
all this may be true, but the simple fact is that since the December 3rd high of 1230 it has been in a downtrend with lower highs and lower lows.
we have moved up to test the original short entry price on the weekly and it seems to have held. 1040 is the next downside target.
the daily is in short trade, during which trade pressures moved up to extended and price did nothing. the time pressures turn down today. the next downside target is 1084. i am wrong if the 1145.70 high is taken out.
Silver –
as one might expect, silver trades much like gold with perhaps less volatility, dampened by its industrial demand.
16.21 put the long cycles in a short trade to 12.90. a pull back within that short trade to 17.406 has touched the new long entry price, then retreated, so still long term short.
Daily is Flat -The daily has been consolidating after it traded above the 16.83 target. 17.55 is new long entry, but both trade and time pressures are extended, so this may be a false entry.
the short entry price is 16.594 with a target of 15.51.
Platinum –
the long term is still in the move to 1868.80. currently testing the recent highs.
yesterdays high of 1644.50 almost reached the projected target of 1647. Both time and trade pressures are extended. so be careful. a trade down thru 1594 will set up a 1544 target.
the problem with Platinum is that 40 and 50 point days are common; I think one needs to be a long cycle trader to avoid the whipsaws.
Palladium –
we are in the long trade from the 449 entry. on the daily the entry price was 412 and we now have a 487.33 target that is nearby; and as with all the metals the pressures seem to be turning down. a trade down thru 460 could take us down to 437.
We still have the upside target of 83.79. we traded to 83.50 one day and then down to a short entry price but not thru it, to bounce and try the 83.48 high. there are multiple targets in the 84.09 – 84.13 area.
Too much risk with too little upside left; I would be flat here.
on the longer term cycles the trade is still long to the old high of 84.98 and then to 89.99.
But the daily is showing some downward pressures and a trade back down thru the 79.87 entry will take us down to 76.19.
Trade pressures have turned down on the longer term. the next target up is 82.75 and the trigger to short the dollar on its longer term cycle is the same, 77.49 to 73.38.
The original target of 81.54 was met as projected. the subsequent consolidation on the daily seems to have almost worked thru the selling pressures and is nearly positioned to move up.
a trade thru 81.024 creates the long target of 82.20.
a failure and a trade thru 79.60 triggers the short entry.
the cycles have been projecting 1209 for some time now, for the longer term cycles.
the weekly long entry point of 1113 was met three weeks ago and we have enjoyed a nice rally, as projected. the next target is 1186. a new down move will be triggered by a trade below 1095.
the 1072 entry point of Feb 12 as resulted in a very nice rally to the projected target of 1162. the next target on the upside is 1181, but I first expect some consolidation and a possible retracement to 1140.
trade pressure is extended and the time pressures are down starting today.
a trade below 1138 will start a correction with a first target of 1111.
long term is up.
the two weeks of pull back have produced a new entry price to add at 1165. the 1209 target remains. trade pressures turning down.
weekly-
have traded thru the 1113 entry price and moving to test the 1148 high, then 1162. 1079 is the short entry price to 1009.
Daily-
you can see the 1157 target on the chart, beyond that are multiple targets in the 1165-69 range. a trade thru 1119 is the short entry to 1093. trade and time pressures are up. short cycle downward pressures begin 3-16.
Weekly trade is up.
next target 82.75. the short entry is 77.49 to 73.38.
Daily-
the trade is flat.
reached the target of 81.54 and now consolidating. 81.26 is the long entry price and 79.60 is the short entry price. time pressures are up and trade pressures are down.
Long term trade is now up with a 94.70 target. 52.86 is the short entry price.
Daily –
the uptrade has traded thru the 80.30 target next target is 83.79. short entry price is 78.77 to 75.09. Trade pressures up and extended; time pressures up.
Gold –
in the weekly down trade to 1040.61, next down side target is 996.40.
Daily moved above the 1130 pivot and stopped at the short cycle target of 1145 – the next upside target is 1179.
the subsequent smaller cycle pull back has triggered another short entry at 1114.50 to a first target of 1083. the daily cycle will peak on 3-16 and downward time pressures will begin. trade pressures are down.
Silver –
in the weekly short trade to 12.90. trade pressures are up and a long entry price is at 17.45.
daily, traded thru the 16.83 target with a new up target of 18.16. the pullback has found support at the same 16.83 level. 16.48 is the short entry price with a 15.42 target. trade pressures are extended up and time pressures are down.
Platinum –
in a long term up trade next target is 1868.80. trade pressure extended up. 1303 is the short entry price.
daily trade pressures now extended up and the cycle pressures remain down til Mar 18th. 1582 target met. next target up is 1647.75.
short entry price is a close below 1559 with next down target 1509. be careful of these short cycles, the average trading range is high.
Palladium –
the pull back to 380 has set a new long entry price at 449 close to a 519 target. trade pressures remain up.
The Daily triggered a short at 429 which never reached 406.60; turning up and triggering a long entry at 435 to targets 472 and 497. Time pressures down and trade pressures turning over while Price is diverging from the indicators, keep stops tight.