Gold Confirming Low as Silver Projects Surge to ~24.50/SI. XAU Could Reach 137.
11/16/22 Weekly Re-Lay Alert – “Gold & Silver surged into Nov 15/16 with Silver completing successive advances of equal duration (33 days each; Sept 1 – Oct 4 & Oct 14 – Nov 16)…
On a broader, weekly cycle basis, Silver remains likely to stretch this overall advance (from Sept 1) into a convergence of weekly cycles on Nov 21 – 28 that would fulfill a ~6-week low-low-(high) Cycle Progression while matching the 12-week duration of the Dec ’21 – Mar ’22 advance and rebounding 50% of the duration of the Mar – Sept ’22 decline…
Platinum is trading similar to Silver and is also validating the outlook for a strong rally in Nov ’22… as a precursor to an even stronger rally in early-2023. It fulfilled projections for an initial rally above 1040/PLF that could ultimately spur a surge to ~1130/PLF.
The XAU & HUI have rallied back to their 2021 lows – key levels of support turned into resistance. They recently turned their weekly trends up, increasing the likelihood that resistance will soon be exceeded. They pulled back to, and held, daily HLS levels on Nov 15 – signaling that another brief rally could soon unfold.
They are capable of stretching this latest rally into [reserved for subscribers]…
Initial upside targets have been at 117 – 120/XAU & 224 – 230/HUI… with extreme upside targets… at 130 – 137/XAU & 245 – 251/HUI.”
Silver is confirming analysis for a 6 – 12 month (or longer) low in Sept ’22 – when Silver was expected to overtake Gold and sees stronger rallies due to multiple factors. Silver’s initial intermediate advance is projected to take it up to 24.50 – 25.00/SI before the end of 2022. Platinum is showing similar signs of developing strength and should rally through November, potentially surging above 1100/PL. Gold retested its late-Sept ’22 low and held in early-Nov, triggering an intermediate buy signal in the days that followed.
How Soon Could Silver Reach ~24.50/SI Target?
What Does Gold’s 4Q ’22 Cycle Low Portend?
How Does Current Action Corroborate 2023 Outlook??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.