Gold, Silver & XAU Remain on Track for Advance into Late-Jan./early-Feb. Long Positions Gaining; How High Could Metals Surge? What About Copper??
Gold, Silver & XAU Remain on Track for Advance into Late-Jan./early-Feb. Long Positions Gaining; How High Could Metals Surge? What About Copper??
01/04/19 INSIIDE Track: “Gold & Silver remain in a multi-year consolidation that is considered to be a corrective rally following the 5-wave decline from 2011 into late-2015. The key for Gold remains its Dec. 2016 low. That was, and still is, perceived to be the ’B’ wave low of an ’A-B-C’ wave rebound – capable of stretching into 2019 (or beyond).
The next important high in Gold is expected in March 2019 – linked to the late-Jan. ‘18 high and subsequent Aug. ‘18 low (phases of 27 – 29-week & 55 – 59-week cycles). Another consistent cycle in Gold is a 17 – 18 month high-high cycle that has timed five successive highs – most recently the July ‘16 & Jan, ‘18 highs – and recurs in June/July ‘19.
Silver fulfilled major cycles that bottomed in Nov. 2018, setting the stage for a 3 – 6 month (and potentially a 1 – 2 year) rebound. On an intermediate basis, Gold & Silver were projected to surge into a convergence of daily & weekly cycles on Dec. 28 – Jan. 4 and attack 1290/GCG & 16.00/SIH.
All of this has just been fulfilled and could usher in some consolidation (before a new rally into late-Jan./early-Feb.)
3 – 6 month & 6 – 12 month traders & investors could have entered long Gold positions (cash, futures, ETFs, etc.) at ~1200.0 down to 1186/GC in late-Sept. Use a weekly close below [reserved for subscribers]. TRADING INVOLVES SUBSTANTIAL RISK!
3 – 6 month & 6 – 12 month traders & investors could have also entered long positions in Silver (cash, futures, ETFs, etc.) around 14.40 and be holding these. Use a weekly close below [reserved for subscribers]. TRADING INVOLVES SUBSTANTIAL RISK!
The XAU remains in a weekly uptrend after bottoming in sync with longer-term cycles, including a ~32-month high-high-low-low-low Cycle Progression, a 3-month/90-degree Cycle Progression, a ~180-degree high (Sept. ‘16) – low (Mar. ‘17) – high (Sept. ‘17) – low (Mar. ‘18) – low (Sept. ‘18) Cycle Sequence AND a ~360-degree high (Sept. ‘16) – high (Sept. ‘17) – low (Sept. ‘18) Cycle Progression.
Long-term cycles continue to project the next multi-year peak in late-2020/early-2021. The greatest synergy of cycles occurs in 4Q 2020. That includes a recurring ~5-year cycle that dates back to early-1996 and a ~10-year low (4Q ‘00) – high (4Q ‘10) – high (4Q ‘20) Cycle Progression.
On a 1 – 3 month basis, pivotal resistance comes into play at 75.65 – 76.88/XAU. That is both an initial upside target and the level that needs to be broken in order to signal a 3 – 6 month bottom.
On a 1 – 2 year basis, ~110.0/XAU is developing as an upside target. However, the XAU needs a weekly and monthly close above 76.88 to validate that scenario…
Copper spiked higher into early-Dec. ’18 but failed to turn its weekly trend up, projecting a drop back to the Aug. ‘18 lows. It has just fulfilled that weekly trend pattern while perpetuating a 20-week low-low-(low) Cycle Progression and a 15-week high-high-(low) Cycle Progression – both on Jan. 2 – 4, 2019. A new 1 – 2 month rally could follow.”
Gold & Silver have fulfilled 2 – 4 week upside targets and are poised for 2 – 3 week highs on Jan. 2 – 4. followed by higher-magnitude peaks in late-Jan./early-Feb. Gold stocks (XAU Index) are corroborating and should see a surge to 75.65 – 76.88/XAU in next 1 – 2 months. Copper poised for multi-month bottom and subsequent surge (into early-Feb., at the very least).
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.