Gold on Track for Higher Highs in March ’20; Silver Projects Early-Feb. Low.
02/01/20 Weekly Re-Lay: “Gold & Silver are diverging with Silver spiking to new intra-month & intra-year lows as Gold rallied. A new sell-off could be seen in Feb…
Gold & Silver have swung wildly after surging into Jan. 6 – 10 and fulfilling 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 in Gold.
That peak took hold in the second week after Gold & Silver attacked their weekly LHRs – fulfilling that indicator. Just as those peaks were divergent (Gold at higher highs, Silver at a lower high), the ensuing action has also shown significant divergence…
Silver has a ~9-week low-low-low-(low) Cycle Progression that projects the next low for Feb. 3 – 10. The corresponding 61 – 69 day low-low-low-(low) Cycle Progression projects that low for Feb. 7 – 14. Price action needs to hone this.
Gold & Silver have diverged even on an intra-week basis, with Silver plunging – in sync with its daily 21 MAC movement – and then rallying as Gold just climbed higher. Gold has repeatedly pulled back to its ascending daily 21 High MAC (support) and then rallied – a bullish factor.
That should spur a rally back to the highs.”
Gold, Platinum, & XAU remain on course to set higher highs in March 2020 – part of the overall outlook for 2020/2021 (see related Special Reports and The Bridge publications). In the interim, Silver is projecting intermediate low in early-Feb. Biggest surprises could come in 2Q 2020!
How high could Gold reach during rally into March 2020?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.