Gold & Silver Poised for Lows; Focus on Early-Nov ’23 Cycles.
06-24-23 – “Gold & Silver remain in multi-month corrective phases, selling off after fulfilling multi-month cycles that projected a decisive peak on May 3 – 5. Those highs fulfilled ~3-month low-high-(high) and ~4-month low-high-(high) Cycle Progressions in Gold & Silver, respectively, while testing upside price targets at 2060 – 2080/GC & 26.50/SI.
That ushered in one of the two important cycle highs in 2023, the other arriving in late-Oct/early-Nov ’23.
Following the early-May peak, both declined with Silver reversing its weekly trend down, bouncing, and then resuming its decline. That could spur a drop to 21.80 – 22.05/SIU in June. Gold took a little longer to do the same thing… The next multi-month cycle low in Gold is most likely in [reserved for subscribers]…
Gold is poised to see increasing volatility in the coming weeks/months, expected to whip back and forth (up and down) in its 2023 trading range.”
Gold & Silver initially sold off after fulfilling multi-month upside price targets AND cycles/timing indicators that peaked on May 3 – 5, ’23 (while convincingly reinforcing two future cycles). They completed initial sell-offs in May ‘23 with the weekly trends providing additional corroborating clues – projecting a new decline after a reactive bounce. That is now unfolding and could soon bottom in line with daily cycle lows.
From a broader perspective, the early-May ’23 peaks powerfully corroborated the other primary cycle focus for 2023 – the time frame in/around late-Oct/early-Nov ’23. That remains a decisive cycle, with some surprising expectations for the months leading into it! [The period surrounding early-Aug ’23 could provide additional reinforcement.]
The XAU & HUI are similar and fulfilled projections for a strong rally into, and a multi-month top in, early-May ’23. In mid-April and early-May ’23, they reached convincing upside targets and signaled 3 – 6 month peaks and the onset of a 1 – 2 month corrections… which have been unfolding. Intermediate lows could be seen in coming week(s).
How Does Early-May Peak Corroborate Aug – Nov ’23 Cycles?
Is a New MAJOR Bull Market Unfolding? If so, When is a Breakout Likely??
How Are Interest Rates & Inflation Creating a Unique Opportunity?
Refer to the April 11, 2023 special issue of The Bridge – Gold, Silver and Elliott Wave Structure for expanded analysis that addresses some of those questions.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.