Gold Fulfills March 7 – 11 Cycle High! Focuses on April 18/19 for Next High.
03/12/22 Weekly Re-Lay – “Gold & Silver surged to new highs and to daily & weekly extreme resistance (2071.2/GCJ), initially fulfilling the potential for an accelerated surge into a Gold peak on March 7 – 14. Gold initially topped on March 8 after surging to its highest level in the past 12 – 18 months.
At the same time, the Dollar Index initially peaked on March 8 after surging to its highest level in the past 12 – 18 months.
Both Gold & the Dollar Index began these latest ~5-week surges after bottoming within 2 – 3 days of Feb 1.
Both Gold & the Dollar Index peaked 6 weeks after their previous highs (set in the second half of Jan ‘22) and 15 – 16 weeks after the preceding highs (set in the second half of Nov ‘21).
However, there is still a preponderance of traders and investors insisting that the Dollar and Gold cannot move in the same direction (see Feb 16, ’22 for additional examples and observations). And yet it keeps occurring.
Turning the focus back to (just) Gold & Silver, the recent Gold peak fulfilled 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 also precisely fulfilled a 41 – 42 day low-low-high-(high) Cycle Progression (that projects a future intermediate peak for April 18/19 – the Date of Aggression, among other things).
Just as in early-Jan, late-Jan & late-Feb ’22, these cycle highs do not signal the termination of a multi-month advance. Due to the context of the overall outlook for 2022 and the continued expectation for a series of ascending highs stretching into Aug/ Sept ’22, these daily and weekly cycle highs time stopping points – or brief pauses – along the way.
In addition, Silver acted similarly – spiking higher into March 8 and initially fulfilling successive advances of equal duration (5 weeks each; Dec 15 – Jan 20 & Feb 3 – Mar 8)…A pair of ascending highs could be seen in March/ April ‘22 and then Aug/Sept ’22 with a sizeable correction in between.
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.
Gold & Silver did accelerate higher into daily & weekly cycles, setting initial peaks and then pulling back after Gold had surged right to its weekly LHR (extreme upside target for this past week) at 2071.2/GCJ. That usually ushers in a 1 – 2 month peak in the ensuing week(s), reinforcing that Gold & Silver could be nearing an important top.”
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, with initial peaks projected for March ‘22. Platinum, Palladium & Gold/Silver all projected accelerated surges in late-Feb/early-March, which have just been fulfilled.
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 projected additional surges into March 7/8 ’22 (when they would equal/exceed the duration of previous rally). Copper is fulfilling multi-year upside objectives and could peak in March ’22.
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Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.