Gold Cycles Turn Bullish in Mid-Feb; On Track for Higher Highs into March ’20.
02/08/20 Weekly Re-Lay: “Gold & Silver have corrected after surging into Jan. 6 – 10 and fulfilling a 36-week low (Dec. 11 – 15, ‘17) – low (Aug. 18 – 22, ‘18) – low (Apr. 22 – 26, ‘19) – high (Jan. 6 – 10, ’20) Cycle Progression as well as an ~18-week/~4-month low-high-(high) Cycle Progression in Gold.
Gold is still expected to set a subsequent peak in March/April ’20 (most likely in March ’20) and most factors still argue for a higher high at that time. It tested and held its weekly HLS this past week, indicating that a 1 – 2 month low should take hold in the coming weeks…
Silver is more likely to set a lower peak in March after fulfilling a textbook weekly trend failure in early-Jan. – twice neutralizing its weekly downtrend but failing to reverse that weekly trend to up…
If they can see a quick (potentially sharp) spike down in the first half of the coming week, Gold & Silver could set an intermediate low – perpetuating a monthly (~30-degree/day) cycle that has governed Gold since last April. As it was heading lower, correcting from late-Feb. into May ’19, the final two highs were on April 10 & May 13.
After Gold bottomed and began to head higher, that cycle flipped to a low-low cycle (supporting Gold instead of resisting it). Since then, Gold has set multi-week lows on June 11, July 9, Aug. 13, Sept. 10, Oct. 11, Nov. 12, Dec. 9 & Jan. 14.
Every one of those highs and lows fell between the 9th and 14th of the month. There is a good chance that Gold will repeat the pattern in Feb. – with a low on Feb. 10 – 14.
A low on Feb. 12 – 14 would come an exact 3 months/90 degrees from the Nov. 12 low and 1 month/30 degrees from the Jan. 14 low. It would also fulfill the timing for a normal correction…
A low on Feb. 12 – 14 would also complete a textbook 1.618/1 (or 1/.618) ratio between the rally and decline (57 days up/35 days down)… a .618 retracement in time.
If Gold fulfills this outlook and shows signs of reversing higher after mid-month, it could [reserved for subscribers]…
Gold & Silver sold off to begin the month, but not enough to turn the intra-month trends down…
The XAU is in between, remaining weaker than Gold but more resilient than Silver. It peaked on Jan. 27, fulfilling daily cycles and the daily 21 High MAC setup as well as the daily LHR and weekly resistance while setting the stage for a new sell-off to follow.
That peak precisely coincided with the peak in the daily 21 High MAC, turning down on the following day. The XAU has twice rallied back to the now-descending 21 High MAC, with the latest time being Feb. 6/7 – spurring a second immediate reversal lower and sell-off. It closed the day below its opposing 21 Low MAC – a signal that could trigger acceleration lower in the days to come.
If the XAU closes below 100.35 on Monday, it could stretch this correction into Feb. 14 – the middle of the month and 30 degrees from the Jan. 14 low as well as 120 degrees from the Oct. 15 bottom…
Copper declined into early-Feb. – perpetuating a ~60-degree/~2-month cycle that recurred on Feb. 3 – 7. It rebounded and twice neutralized its daily downtrend but needs a daily close above 2.6255/ HGH to turn the daily and intra-month trends up.
Platinum remains on track for an overall decline into Feb. 12 – 14, 90 degrees from its Nov. 12 low and 180 degrees from its Aug. 15 low. A daily close below 954.3/PLJ would confirm that.”
Gold, Platinum, & XAU remain on course to set higher highs in March 2020 – part of the overall outlook for 2020/2021 (see related Special Reports and The Bridge publications). All three are poised to turn positive after Feb. 10 – 14 and then rally into March ’20.
How Would Surge into March 2020 Reinforce Outlook for April – July ’20??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.