Precious Metals Portend Surges into Sept. ’20; Gold, Silver, XAU, Platinum, Palladium & Copper Concur.
06/30/20 INSIIDE Track: “Gold & Silver remain in overall uptrends expected to extend into late-2020 and likely into May 2021.
That comes on the heels of 1Q ’20, when metals fulfilled cycle highs in late-Feb./early-March and then plunged to precise downside targets (most notably at 1450.0/GC) while diving into mid-March ‘20 – when Silver and the XAU signaled 3 – 6 month (or longer) bottoms.
That was the ‘4th wave of lesser degree’ (the 4th wave low of the 5-wave advance from Sept. ‘18 into March ‘20) and the level that needed to be tested before Gold’s multi-year advance could resume.
After fulfilling that downside objective, Gold surged to new highs, leading into mid-April ‘20 – validating that March low and fulfilling the outlook for a series of accelerating and ascending highs in 2020 as a sequence of ‘5th waves’ unfold and set sequential peaks leading into May 2021.
The April ‘20 peak held for two months but could never produce any confirmed signs of an intermediate reversal lower. So, it remained in an intermediate uptrend and ultimately rallied into late-June and to new highs.
Meanwhile, Silver consolidated near its high after peaking on June 1, 90 days/degrees from Silver’s late-Feb. low, 180 days/degrees from its early-Dec. ’19 low and 270 days/degrees from its early-Sept. ’19 peak… as well as prior ~180-degree turning points. That is expected to lead to a subsequent peak in late-Aug./early-Sept. ‘20.
A Silver peak in early-Sept. ‘20 would fulfill:
– ~3-month/90-degree high-high-(high) Cycle Progression.
– ~6-month/180-degree low-high-high-high-(high) Cycle Progression.
– ~12-month/360-degree low-high-(high) Cycle Progression.
It would also dovetail with ongoing analysis in Gold, projecting a multi-month peak for Sept. ’20 – which just happens to be the next phase of Gold’s uncanny 27 – 29 week cycle… Silver remains in a positive structure and is beginning to come back to life, confirming the outlook for an inflationary burst during the final 6 – 12 months of this bull market in precious metals.
It bottomed in mid-March ‘20 – perpetuating a series of cycles that has governed Silver for several years. March 16 – 20, 2020 fulfilled a 70-week low (July 10 – 14, ’17) – low (Nov. 12 – 16, ’18) – low Cycle Progressionand a 14-week low-high-low-high-low-(low) Cycle Sequence.
Mar. 16 – 20, ‘20 was the midpoint of the 28-week low-low-low-(low) Cycle Progression that helped pinpoint the Dec. 9 – 13, ‘19 low and fulfilled an overlapping 28-week high (Feb. ’19) – high (Sept. ’19) – low Cycle Progression. It also fulfilled a 7-week high-high-low-(low) Cycle Progression.
More importantly, it fulfilled an overall 51-month high (Sept. ‘11) – low (Dec. ‘15) – (low; Mar. ‘20) Cycle Progression in the overall precious metals markets. That is what ushered in this period during which Silver will likely outpace Gold to the upside. Silver quickly triggered a multi-month buy signal (near 12.00/SI) and began a rapid surge from there.
3 – 6 month traders and investors can enter new long positions in Silver (cash, futures, ETFs or related vehicles) [reserved for subscribers; refer to latest publications for current trading strategies].
The XAU has consolidated after surging to new highs and nearly reaching its primary 2 – 3 year upside objective (triggered in 2018) at 135 – 140.
From its mid-March low – which fulfilled pivotal cycles, its extreme downside monthly target (HLS) and held 6 – 12 month support – the XAU rallied in a 5-wave sequence, completing the 5th wave (that began on May 1) in mid-May while perpetuating a ~60-degree cycle. It then underwent an ‘a-b-c’ correction into mid-June, testing and holding its 4th wave of lesser degree support (the May 1 low).
While doing that, the XAU twice neutralized its weekly uptrend as it pulled back to its ascending weekly 21 High MAC – holding 2 – 4 week support near 110.0/XAU. That ushered in the onset of a new impulse wave that should carry miners to new intra-year highs and could extend their rally into mid-July (the next phase of that ~60-degree cycle).
IF that 110.0 support continues to hold, it could ultimately propel a rally to/above 160.0/XAU and potentially as high as 180 – 190/XAU over the course of the next 6 – 12 months (or sooner). More and more, it looks as though the XAU should set two decisive peaks in the next year – one in/around Sept. ‘20 and the other in 2Q ‘21.
The second of those, in 2Q ‘21, would perpetuate a very consistent 30 – 33 month high (Mar ‘08) – high (Dec ‘10) – low (June ‘13) – low (Jan ‘16) – low (Sept ‘18) – (high) Cycle Progression.
Prior to that, however, a peak in/around Sept. ‘20 would fulfill a 47-month low (Oct. ’08) – high (Sept. ’12) – high (Aug. ’16) – high Cycle Progression as well as a 26 – 30 week low-high-high-high-(high) Cycle Progression. A subsequent low in Oct./Nov. ’20 would also fulfill pivotal weekly/monthly cycles.
Platinum dropped into June 22 – 26, fulfilling weekly cycle lows in the metals (even as other metals bottomed early). It is expected to congest between its early-May low and mid-May high in July but could ultimately trade higher into mid-Sept. – the next phase of its ~4-month/18-week (17 – 19 week) low-low-low-low-high-high-high-(high) Cycle Progression and an over-arching ~8-month cycle.
Palladium is narrowing its trading range but could ultimately rally into late-Aug./early-Sept. – when a secondary high is most likely.
Copper continues to rally after plunging to multi-year support – and a combination of range-trading targets – at 2.000 – 2.100/HG, fulfilling the downside targets for a multi-year decline. It broke above intermediate resistance and could rally into mid-July.”
Gold & Silver are entering bullish cycles – expected to last from 3Q ‘20 into 2Q 2021. Silver gains expected to exceed Gold gains during that period, as Silver & metals stocks forecast to track closer with (bullish) overall stock market and inflationary forces support Silver.
How High Could Surge into Sept. ’20 Carry Gold & Silver?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.