Gold Corrects into mid-March; Focus on April 18/19 for Next High.
03/16/22 Weekly Re-Lay Alert – “Bonds & currencies, stocks & metals all sold off in the early part of the week, primarily on anticipation of the first Federal Reserve rate hike since Dec 2018. Every one knew it was coming. It has been anticipated for weeks (even months). So, the markets have been discounting this event for quite some time!
Even so, the markets felt the need to sell-off again – leading into this fundamental event. And, as is so often the case, the realization of that expectation triggered the polar opposite response – rallying stocks, metals & currencies in what could be the onset of new advances.
That dovetails with much of what has been anticipated in those markets, including action surrounding mid-March when intra-month trends often bottom (or peak) and head the other direction into month-end (see Tech Tip Reference Library descriptions of Intra-Month V and Intra-Month Inverted V Reversals)…
Gold & Silver corrected sharply after fulfilling expectations for an additional surge into March 7 – 11… Last week, Gold surged to new highs and to daily & weekly extreme resistance (2071.2/GCJ), fulfilling the potential for an accelerated surge into an initial peak.
At the same time, Silver surged to its 2022 range-trading target (illustrated on page 1) – a series of swings that have remained well-defined since early-Jan – with 27.50/SIK representing the latest upside target. At the same time, Gold 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).
Both metals dropped back to their month-opening lows and rising daily 21 Low MACs while neutralizing their daily uptrends. That ushers in the ideal time and price for a pullback low and the onset of a new rally.”
Gold & Silver fulfilled the 3 – 6 month outlooks for sharp rallies into late-Feb/early-March ‘22. Those highs, particularly in Gold, project a future multi-week peak for April 18/19 as part of the overall outlook for 2022.
Silver is fulfilling monthly cycles that argue for a pivotal peak in March ’22 – the latest phase of its ~6-month Cycle Progression and a possible precursor to a more significant peak in ~Sept ’22 (6 months later). XAU & HUI cycles also peaked on March 7/8 ’22 but are showing more relative strength than the actual metals. Copper is fulfilling multi-year upside objectives and could peak in March ’22.
What Do Precious Metals Cycles & War Cycles Portend for 2022 (into 2025)?
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Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.