Gold Attacks 1604.9/GC Extreme During Jan. 6 – 10 Cycle High!
01/08/20 Weekly Re-Lay Alert – The 90/10 Rule, Weekly & Monthly Extremes and Gold: “Gold has gone through a textbook, parabolic surge – another perfect manifestation of the 90/10 Rule of Cycles (where 80 – 90% of a price move occurs during the final 10 – 20% of a cycle).
In this case, that refers to an intermediate move stemming from when Gold bottomed in mid-Nov. while fulfilling multiple factors that made it a likely ‘4th’ wave low prior to a ‘5th’ wave advance.
[This particular wave count only refers to the 5-wave advance stemming from the Sept. ’18 low and does NOT indicate a final multi-year or even multi-quarter peak in Gold. It doesn’t even guarantee a multi-month peak, although that is a possibility.]
While surging into the convergence of a 36-week low (Dec. 11 – 15, ‘17) – low (Aug. 18 – 22, ‘18) – low (Apr. 22 – 26, ‘19) – high (Jan. 6 – 10, ’20) Cycle Progression as well as an ~18-week/~4-month low-high-(high) Cycle Progression – on Jan. 6 – 10 – Gold & Silver attacked their weekly LHRs on Dec. 27, reinforcing that a blow-off top should take hold in the following 2 – 3 weeks.
Silver held that weekly LHR while Gold closed above it, reinforcing the unfolding acceleration that would likely yield a final surge. Both also generated weekly trend signals that identified Jan. 6 – 10 as a prime candidate for an intermediate peak. Neither was yet done…
As the month of January began, Gold had one more extreme which – if tested and held – would reinforce the likelihood for a higher magnitude peak in the ensuing 2 – 3 months (March 2020??).
Its monthly LHR (extreme upside target for Jan. ’20) aligned at 1604.9/GCG. – an extreme target generated from the Nov. ’19 low (1453.1/GCG) and Dec. ’19 high (1529.0/GCG).
As Iranian missiles rained down on Iraqi/US military bases last night, Gold spiked up to this extreme target and then quickly reversed lower. At least on a multi-week basis, that is a likely peak.
This reveals some important (add’l) clues regarding Jan. – March ’20 even as cycles in other markets could corroborate (and could even identify when future ‘events’ could unfold & roil various markets)…”
Gold, Silver & XAU confirming analysis for 1 – 2 month peak, fulfilling weekly & monthly cycles. Precious metals remain on track for overall advance into March 2020.
How Much Higher Could Metals Reach by/in March ‘20?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.