Gold & Silver Reinforcing Outlook for 2020; Projected Rally into Dec. ’19 Unfolding… Two Pivotal Cycles in 2020 in Focus!
12/04/19 Weekly Re-Lay Alert: “Gold & Silver rallied to new rebound highs, initially fulfilling cycles that project a secondary peak on Dec. 2 – 13. In the case of Gold, this rally could still extend into Dec. 9 – 13 – the latest phase of ~7 & ~14 & the midpoint of the latest ~28-week cycle.
Corroborating that, the inversely-correlated daily 21 MARC will plunge for the next 6 days. To give some perspective, Gold would have to rally above 1518.8/GCG tomorrow in order to turn its daily 21 High MAC up (since that is the high of 21 trading days ago, the data replaced when calculating the new daily 21 High MAC).
On Dec. 10, however, Gold would only need to exceed 1480.7/GCG to turn its daily 21 High MAC up.
On Dec. 3, Gold closed above its descending daily 21 High MAC while turning its daily trend up. That ushered in a reactive pullback that could bottom tomorrow or Friday and spur another quick surge. A daily close above 1489.9/GCG is needed to confirm.
The XAU spiked above 98.00, reaching the primary upside objective from its Nov. 12 daily cycle low and daily trend buy signal. While that fulfills the 2 – 4 week objective from the test of multiple support levels (90.54 – 91.17/XAU), it does not yet fulfill the upside objective (102.29/XAU) from its weekly trend signal in mid-Oct.
From a daily cycle basis, the XAU is still capable of rallying into [reserved for subscribers]… Other daily cycles concur, but a daily close above 98.64/XAU is needed to confirm.”
Gold & XAU reinforces likelihood of advance into Dec. 10 – 13. Daily 21 MARCs pinpoint Dec. 10 – 12 as potentially bullish period. Price action should clarify what to expect from then into late-Dec. Subsequent cycles provide intriguing potential in early-Jan. 2020.
What is in Store for Gold in 2020/2021?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.