-GOLD CYCLE UPDATE- Both the September and November lows arrived about 45-trading days apart. Last Thursday’s breakdown to $1784.60 occurred 45-days after the November low. Closing back above the 50-day EMA (currently $1858.67) would prescribe a successful retest of the November low and the beginning of the next uptrend.
Gold futures (currently $1845) will form a swing low if prices finish the day above $1836, the first step in creating a low.
Silver (currently $27.66) needs a strong close above $28.00 to reinstate the potential for an immediate breakout.
Platinum (currently $1194.40) has been leading metals higher. Prices are testing critical resistance encompassing $1200. A sustained breakout above $1200 would be incredibly bullish and support subsequent breakouts in gold, silver, and miners.