Gold & Silver Validating Initial Signals; Portend Larger Advances.
05/25/22 Weekly Re-Lay Alert – “Gold & Silver have reversed their daily trends up as they rebound from cycle lows on May 13/16 and project the next 1 – 2 week top for May 31 – the latest phase of the ~6-week/~42-day low-low-high-high-(high) Cycle Progression that helped pinpoint the March 7 and April 18 peaks. In the case of Gold, that would also represent a 50% rebound in time.
The recent low also had Gold completing its third consecutive, 9 – 10-week decline without turning its weekly trend down.
On a near-term basis, Gold has projected a rally to ~1895/GCM where this May ’22 rally would equal the magnitude of the preceding Mar/Apr ’22 rally. Not surprisingly, it would also have Gold testing the level of the Mar ’22 low – a pivotal point of support turned into resistance.
The most bullish intra-month pattern (possibility, but not necessarily a probability) would be to see Gold, Silver, or both [reserved for subscribers]…
The XAU also fulfilled an intriguing parallel to 2020, where it dropped the same magnitude and same time (~3 weeks) as the Feb/Mar ’20 plunge. On a near-term basis, they need daily closes above 135.50/XAU and 264.50/HUI to confirm multi-week lows.”
Gold, Silver & XAU/HUI Indexes fulfilled downside objectives in price and time and triggered initial buy signals – validating lows projected for May 13/16. Early-June could usher in larger rallies.
Is a New (Greater) Buy Signal Unfolding?
How High Could Impending Metals’ Rally Reach??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.