Gold & Silver Fulfill Early-Sept Cycle Highs; Project Future Highs in ~Early-Jan ‘24.
09-06-23 – “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.
Silver rallied to new intra-month highs – an Intra-Month V Reversal higher in Aug ’23 – and peaked on Aug 28 – Sept 1, perpetuating a ~17 (16 – 18)-week low-low-high-high-(high) Cycle Progression that reinforces the future cycle peak in Jan ’24 (next phase of that ~17-week cycle is Dec 26 – Jan 5, ’24).
On a near-term basis, it fell short of expectations – turning down a few days sooner and from lower levels than its ideal (more bullish) scenario… Silver sold off sharply (showing much more near-term weakness than expected) during the first three days of the new month and right to monthly support (23.04 – 23.39/SIZ) while twice neutralizing its daily uptrend.”
Gold & Silver fulfilled projections for a quick surge into early-Sept ’23 when a multi-week high had been projected. That corroborates future cycle highs projected for late-Oct/early-Nov ’23 and more significantly in Jan ‘24. They were not able to turn intermediate indicators positive and are seeing more weakness, in the short-term, than what was expected. That does not, however, alter expectations for the weeks leading into early-Nov ’23.
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 90/10 Rule of Cycles in Gold continues to project a sharp advance in Oct ’23 – in the final weeks leading into a (potential) early-Nov ’23 peak.
Where are Metals Likely to Rally in 4Q ’23? Will Middle East War Cycles Have an Impact??
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.