Gold Trading; Metals Resume Uptrends – Portend Surges into March 7 – 14!
03/05/22 Weekly Re-Lay – “Gold & Silver have resumed their uptrends and could see sharp spike highs in the coming week(s)… Gold & Silver are breaking out to new highs and reinforcing the thinking that this is all part of a larger-magnitude advance into Aug/Sept ’22. This could trigger acceleration higher…
A Gold peak on March 7 – 14 would fulfill an 11 – 12 week high-low-low-high Cycle Sequence as well as a corroborating 6-week low-low-(high) Cycle Progression and ~3-week low-low-low-low-(high) Cycle Progression. It would also fulfill a 41 – 43 day low-low-high-(high) Cycle Progression…
The more likely scenario is that Gold & Silver see a pair of peaks – one in the coming ~week and another in late-March. That is when Silver’s 10-week high-high-high-(high) Cycle Progression comes back into play (March 28 – April 1).
Silver’s weekly 21 MAC structure remains bullish and could spur an accelerated advance in the coming days or weeks – even surging as high as 29.00 – 29.50/SIK – particularly now that Silver has given a weekly close above 25.70/SIK and broken out to new ~7-month highs.
The monthly LHR for March comes into play at 29.42/SIK and corroborates the previously-discussed range-trading targets. Weekly LHRs are at 28.09 – 28.28/SIK and represent an initial (extreme) upside target for the next 1 – 2 weeks.
A pair of highs could be seen in March/April ‘22 and then Aug/Sept ’22 with Gold & Silver still capable of setting a sequence of ascending highs. A (1 – 2 month) peak in March ’22 would also perpetuate Silver’s ~6-month low-low-low-low (Sept ’21) – high Cycle Progression that helped pinpoint the late-Sept ’21 bottom.
From a wave perspective, the Aug ’20 – Mar ’21 decline in Gold has all the earmarks of a wave ‘4’ correction, prior to a wave ‘5’ finale (following the March ’21 low). In late-Sept ’21, major cycle lows corroborated, creating a divergent bottom with Silver, Platinum, XAU and HUI all setting lower lows while Gold held at/above its March ’21 low.
That ushered in a decisive bottom that could hold for 6 – 12 months (or longer) as it triggered the onset of a new impulse wave higher in most metals. That maintains the potential to extend this advance into Aug/Sept ’22, when monthly & yearly cycles align.
Gold & Silver consolidated for a week while maintaining bullish structure and projecting a new 1 – 2 week surge. That could lead to acceleration higher in the coming days.
The XAU & HUI are entering the accelerated phase of an overall advance that took hold when longer-term cycles bottomed in late-Sept ’21. Secondary lows were set in mid-Dec. and projected rallies into late-Feb/early-Mar ’22.
They have entered the time when an intermediate high could be set but an accelerated spike up is still likely as part of that peak. If that is the case, monthly & weekly LHRs (extreme upside targets) converge around 174 – 175/XAU & 340 – 345/HUI.
On balance, these indexes and mining shares could move progressively higher into Aug/Sept ‘22 (even if a prolonged correction/consolidation follows a peak in March/April ’22).
Copper remains in what is likely to be the final phase(s) of a ~2-year bull market and is finally fulfilling projections for an additional spike high in 1Q ’22 (that has stretched into March ’22, when a 21 – 22-week high-high-high-high-high cycle recurs). It will continue to be considered an uptrend until a weekly close below 4.7000/HGK.
Platinum & Palladium remain strong and again surged after Platinum pulled back to its rising weekly 21 High MAC – a pivotal level of support – and triggered bullish signs for a new rally.
Palladium is powerfully validating analysis for a new bull market after bottoming in Dec ’21, when it reached downside price objectives for that decline AND the support from which a new advance should take hold. Palladium has its own series of ranges at ~500, ~1700 & ~2900/PA. If it convincingly breaks above 2900/PA, Palladium could reach ~4100/PA as part of this overall advance.
On a 1 – 2 year basis, the next multi-quarter peak is most likely in 3Q ’22 – the fulfillment of a ~15-month high-high-(high) Cycle Progression. That dovetails with cycle analysis in most other metals & mining shares.”
Gold & Silver are fulfilling the 6 – 12 month outlook for major surges in 2022 – creating a series of ascending highs that could stretch into Aug/Sept ’22. Platinum, Palladium & Gold/Silver action portend an imminent new and accelerated surge in the coming days.
Silver cycles are arguing for a pivotal peak in March ’22 – the latest phase of its ~6-month Cycle Progression. XAU & HUI cycles concur and project additional surges into March 7/8 ’22 (when they would equal/exceed the duration of previous rally). Platinum & Palladium are reinforcing projected multi-month advances after 6 – 12 month bottoms were signaled in Dec ’21; Copper is fulfilling multi-year upside objectives and could peak in March ’22.
How Have Precious Metals Cycles Validated War Cycles Forecast for Late-2021 – 2025?
What do Platinum & Palladium’s Dec ‘21 Buy Signals Portend for 2022??
How High Could (Imminent) March ’22 Surge Take Metals? Is Copper Peaking?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.