Gold Trading: Gold, Silver, Mining Shares Surging From Cycle Low!
10/13/21 Weekly Re-Lay Alert – Gold is surging, along with Silver & mining shares (XAU & HUI index stocks) – all confirming the myriad of cycles that bottomed in late-Sept. and projected an initial surge into Oct 18 – 22 (and potentially stretching into early-Nov., in at least some of those entities).
The HUI led the way – after adhering closely to cycles and technical expectations since Feb. ’21 – and precisely fulfilled multi-year, monthly, weekly & daily cycles bottoming in late-Sept. by setting its lowest close and intraday low on Sept 29. These rallies still have farther to go…
Gold & Silver are confirming a multi-week reversal higher. They fulfilled intermediate analysis for overall declines into late-Sept with Gold bottoming without giving a daily close below 1720.0/GCZ (pivot point).
They also bottomed in sync with weekly extreme support patterns. Gold’s weekly HLS indicator projected a 1 – 2 month low for the second half of Sept. (by Oct 1). That is when both bottomed.
They reversed higher on Sept 30 – 180 degrees (6 months) from the Mar 30/31 lows in metals and mining shares – an ideal time for a low. They have also initially fulfilled monthly and weekly cycles in Silver that projected a multi-month low in late-Sept/early-Oct ‘21.
Since then, they have been projected to rally into late-Oct. and perpetuate Gold’s 21 – 22-week high (Feb ’20) – high (Aug ’20) – high (Jan ’21) – high (Jun ’21) Cycle Progression. Gold should (at least) reach 1840.0/GCZ with Silver targeted to reach (at least) 25.00/SIZ. This week’s LHR levels concur.
The XAU & HUI reversed higher in late-Sept., in lockstep with yearly, monthly & weekly cycles as well as their respective weekly HLS patterns. That is when an intermediate low was expected, followed by an initial rally into (at least) Oct 18 – 22, the next phase of the HUI’s 11-week low-high-high-(high) Cycle Progression.
Initial upside targets are at 136.54 – 137.25/XAU and 267 – 273.00/HUI.”
Gold & Silver as well as mining shares (XAU & HUI Indexes) fulfilled projections for sharp declines into late-Sept when weekly, monthly & yearly cycles bottomed and projected 3 – 6 month (or longer) lows… ushering in the time for a new rally into 1Q ’22. The XAU attacked 3 – 6 month and 6 – 12 month price support near 115.00/XAU – where a 3 – 6 month (or longer) bottom was most likely.
All these factors powerfully reinforce analysis for a major low in late-Sept ‘21! Gold & Silver should now see initial surges into (at least) 1840/GCZ & 25.00/SIH before new 1 – 2 month peaks would become likely/
How would high in Nov ’21 impact cycles in Jan & Feb ‘22?
What does this mean for the next multi-month cycle high in 1Q ’22??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.