Gold & Silver Fulfill Minimum Downside Targets; Project Early-Sept ’23 Highs.
08-30-23 – “Gold & Silver fulfilled ongoing analysis, since March ’23, for the next multi-month low to occur during the 2-week period of Aug 14 – 25, ’23. That is when the sell-off, from the early-May ’23 cycle highs, was projected to culminate and lead to a subsequent strong advance.
By setting lows on Aug 15 – 21, Gold & Silver fulfilled the latest phase of a consistent 22 – 23-week high-high-high-high-low-low-(
That dovetailed with Silver’s weekly HLS indicator, projecting a (minimum) 1 – 2 month low by/on Aug 18, ‘23. Silver fulfilled that and projected a sharp, initial rally from that mid-Aug ’23 low into early-Sept ‘23.
Early-Sept ‘23 is also the midpoint of its over-arching ~8-month/35 – 37-week low-low-low-high-(high) Cycle Progression that projects a future peak in Jan ’24.
The recent price action of Gold & Silver is what helped validate mid-Aug ’23 cycle lows. Silver barely spiked below its late-June low, showing underlying strength on a 1 – 2 month basis, as Gold dropped right to its Jan ’23 low (~1914/GCZ) – key support for the intra-year trend.
Silver is reinforcing the scenario where it could see a quick surge back to [reserved for subscribers]… It just spiked to new intra-month highs, fulfilling an Intra-Month V Reversal higher and corroborating this outlook.
The XAU & HUI fulfilled analysis for multi-month lows as the HUI projected a low by/on Aug 17/18, ’23 – fulfilling a 22 – 23-week high (Nov 15-22, ’21) – high (Apr 18-25, ’22) – low (Sept 19-26, ‘22) – low (Feb 24-Mar 9, ’23) – (low; Aug 4 – 18, ’23) Cycle Progression – while the XAU projected a low on Aug 14 – 21, ’23 (based on related cycles). Both set low closes on Aug 18, ’23!
Both attacked & held their 2 – 4 month primary downside targets – the 4th wave of lesser degree support – at ~110 – 112/XAU & ~210 – 214/HUI – and have since signaled multi-week lows. This could spur a surge as high as ~xxx.xx/XAU in Sept ’23.”
Gold & Silver fulfilled the multi-month projection (since 3 – 6 month cycle highs in early-May ’23) for an overall decline into August 17 – 24 and reached the minimum downside targets leading into those cycles. A quick surge into early-Sept ’23 is expected to produce a subsequent, multi-week high (and reinforce future cycle highs in late-Oct/early-Nov ’23… as well as in Jan ‘24).
Geopolitical cycles on Aug 22 – 24, ’23 were fulfilled (when Vladimir Putin was projected to ‘make a statement’ with some sort of action that alters the landscape moving forward and starts the clock ticking on the next phase of War Cycles in late-2023 – late-2025) and helped spur an initial rally.
The action since late-2022 is powerfully validating the onset of a new 40-Year Cycle of Currency War in which Gold & Silver possess unique potential for late-2023 – late-2024! The setup of the XAU & HUI concurs.
Where are Metals Likely to Rally in 4Q ’23?
How Does 90/10 Rule of Cycles Project Sharp Rally in October ’23?
Why are early-Nov ’23 Cycle Highs the Key to 2024 Outlook?
Refer to the April 11, 2023 special issue of The Bridge – Gold, Silver and Elliott Wave Structure – and subsequent reports – for expanded analysis and charts.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.