Gold Poised for early-March ’20 Peak; Silver & XAU Reach Upside Targets.
02/22/20 Weekly Re-Lay: “Gold & Silver are fulfilling the latest phase of Gold’s 54 – 59 week cycle, 27 – 29 week cycle, ~14-week cycle (and even the overriding ~112-week cycle) – all of which have been described repeatedly over the past couple years.
This latest surge has catapulted Gold to new multi-year highs, fulfilling what has been discussed since Feb. ’19 and what was reiterated throughout Dec. ’19 & Jan. ’20 – all of which projected higher highs in Gold in March ’20:
If Gold were able to test and hold that extreme level, it would reinforce the likelihood for a higher magnitude peak in the ensuing 2 – 3 months (March/April 2020??)”
Gold has now rallied for 14 weeks from its Nov. ’19 low. That nearly matches the duration of the previous May – Aug. ’19 rally (14 – 15 weeks) and the preceding Feb. – May ’19 correction – as Gold enters a multi-week period when the greatest synergy of related cycles (see first paragraph) portend an intermediate peak and reversal lower.
These cycles would still allow for further upside before that peak takes hold – with 1684.0 – 1691.5/GCJ providing an upside target – and do not dictate where a peak should occur, but do usher in the time frame when that peak is most likely.
Last week, the metals attacked or exceeded their weekly LHR levels and the convergence of multiple weekly LHRs. The latest three in Gold were at 1625.3 – 1638.9/GCJ while Silver’s were a little more spread out – with 4 of the latest 5 at 18.185 – 18.97/SIH. 18.89 – 19.01/SIH = related resistance.
That reinforces that metals are in a new blow-off advance – providing another example of the 90/10 Rule of Cycles as the majority of this latest advance (from Gold’s mid-Jan. pullback low and early-Feb. secondary low) has unfolded in the past few days.
So, timing is warning of an impending (multi-month) peak – that could arrive almost exactly one year/360 degrees from the late-Feb. ’19 peak…
The XAU turned its intra-month trend up, re-entering its daily uptrend (while removing any remaining downside potential), and then surged to its weekly LHR levels. Its most recent two LHRs were at 107.40 – 107.59 with its latest four at 107.40 – 111.83/XAU.
This has allowed the XAU to reach and spike above its 1 – 2 year upside target (triggered in Sept. ’18) at ~110.00/XAU while surging into the latest phase of a 16 – 19 trading-day low (Oct. 15/16) – low (Nov. 12) – low (Dec. 9) – high (Jan. 2) – high (Jan. 27) – high (Feb. 18 – 21) Cycle Progression.”
Gold, Silver & gold stocks (XAU Index) reinforcing overall outlook for 2020/2021 (see related Special Reports and The Bridge publications). Silver & XAU have reached upside objectives and could peak at any time while Gold maintains the potential to stretch its advance into early-March before a sharp correction (1450.0/GC = critical downside wave objective).
What is Significance of XAU Reaching 1 – 2 Year Target?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.