Gold & Silver Surge into Early-Jan
Gold & Silver Surge into Early-Jan;
3 – 5 Day Pullback Could Precede New Surge.
XAU Remains on Course to Reach ~93.00!
01/03/18 Weekly Re-Lay Alert – Gold & Oil Set 2018 on Intriguing (Initial) Course:
“Gold & Silver have surged after dropping into the first half of Dec. and fulfilling multiple (yearly, monthly & weekly) cycle lows.
They have since rallied sharply with Gold producing an outside-month 2 Close Reversal higher as Silver completed a corresponding monthly 2 Close Reversal higher in December.
That powerfully reinforces the outlook for a surge from early-Dec. into early-Feb. 2018.
On an intermediate basis, Gold has the next phase of an ongoing 18 – 21 week cycle – that could produce a multi-week peak – coming into play between mid-Jan. & early-Feb.
If an advance in Gold stretches into the final week of that cycle (early-Feb; consistent with monthly cycles previously discussed in INSIIDE Track), it would also complete a 29-week low-low-(high) Cycle Progression & a 14-week drop/7-week advance (50%) sequence, as well.
On an intermediate basis, Silver could also still set an important high in Feb. 2018. Since its bottom in Dec. ’15, Silver has had 5 significant advances – each lasting ~2 months (Dec. ’15 – Feb. ’16, Mar. – May ’16, May – Jly. ’16, Dec. ’16 – Feb. ’17 & Jly. – Sept. ’17). A similar, ~2-month advance would take Silver higher into Feb. ’18 – when other monthly cycles converge.
Based on wave comparisons & its recurring 2.50 point range, Silver could make it back up to ~18.50/SI.
A peak in Feb. 2018 would also complete successive ~7-month advances (Dec. ’15 – July ’16 & July ’17 – Feb. ’18) AND a ~9.5 month high (July ’16) – high (mid-April ’17) – high (Feb. 2018) Cycle Progression. A .618 rebound in time (12 months down/7 months up) would also peak in Feb. ’18.
In the short-term, Gold & Silver have approached 2 – 3 month resistance (1315 – 1322.0/GCG & 17.45 – 17.60/SIH) and are expected to see a pullback in the first half of January… before mounting a second advance into Feb. 2018.
The XAU has continued to surge since fulfilling its 2 – 3 month outlook & 6 – 12 month outlook by dropping to new multi-month lows in Dec. 2017 & perpetuating an 11 – 12 month low-low-low Cycle Progression as it was testing & holding extreme support at 75.77/XAU.
That low fulfilled a 21 – 22 week high-low-(low) Cycle Progression and next comes into play in May 2018 – when another low is more likely.
It has just 2 – 3 month resistance at 88.00/XAU and could see a brief pullback before extending this advance into late-Jan.
Multiple monthly targets, extreme targets & key resistance projections group at 92.87 – 93.06/XAU in January and could be tested before month-end.
Intermediate (2 – 4 week & 1 – 3 month) traders could have entered Gold stocks or related instruments three weeks ago and can now [reserved for subscribers].” TRADING INVOLVES SUBSTANTIAL RISK!…
Gold, Silver & the XAU have surged into early-Jan. & could see a 3 – 5 day pullback before a new surge unfolds. This reinforces the overall outlook for a dramatic rally from the Dec. 11/12 buy signal into Feb. 2018.
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.