Gold Rally: Late-Jan Peak Approaching; Sharper Rally into Feb 21 – 25 Projected.
01/26/22 Weekly Re-Lay Alert – “Gold & Silver are pulling back after rallying enough to close last week above their upwardly-reversing weekly 21 High MACs as Silver re-entered its weekly uptrend for the first time since mid-Nov ‘21. At the same time, Silver tested and held its weekly LHR (24.74/SIH).
That fulfilled another aspect of the outlook for Silver to rally into Jan 31 – Feb 4 as part of an overall advance from Jan 7/10 into Feb 21 – 28 – the next phase of Gold’s ~7-week low-low-high-high-(high) Cycle Progression that timed the early-Jan peak AND the next phase of an overriding 17 – 18 month high (Aug/Sept ’17) – high (Feb ’19) – high (Aug ’20) – high (Feb ’22) Cycle Progression.
As long as Gold and Silver do not turn their daily trends down (which cannot occur until Jan 31, at the earliest; trigger levels are not yet established), they would remain in a position to resume their uptrends and continue into late-Feb.
On a short-term basis, Gold spiked higher into Jan 25 – matching the duration of its initial (Dec 15 – Dec 31/Jan 3) rally – before pulling back. It did that while rallying right to weekly resistance (and the new Intra-week PLLR at 1853.9/GCG. That spurred a reversal lower, which could test weekly support (1804.7 – 1809.9/GCG & 22.91 – 23.35/SIH) in the short term.
From a price perspective, Gold’s overall advance – from the Dec 15 low – could approach its early-June ’21 peak (~1920.0/GC; also range-trading resistance) by late-Feb. Since the early-Aug ’21 intraday low, Gold has had two intermediate rallies with magnitudes of ~160.0/GCG each (2 xs its ~80.0/GC trading ranges).
A third rally of ~160.0/GCG – from the Dec 15 low of 1753.0/GCG – projects a surge to ~1913.0/GCG… just below its 1920.0/GC trading range extreme…
The XAU & HUI are moving similar to Gold & Silver and expected to rally, on balance, into Feb 21 – 28…
Platinum & Palladium continue to surge and are reinforcing bullish signals from mid-Dec – that projected surges into late-Jan/early-Feb. Both rallied above and closed above their weekly 21 High MACs on Jan 21, reinforcing this outlook and confirming that multi-month bottoms are intact.
As explained in recent months, these could be 6 – 12 month or even 1 – 2 year lows in these metals.”
Gold & Silver remain on track for an overall surge into Feb 21 – 28 and to at least 1913 – 1920/GC. Since that would only match previous rallies, and Gold is perceived to be in a higher magnitude advance, it should ultimately exceed 1920/GC and validate the overall outlook for 2022.
Platinum & Palladium fulfilled major downside objectives in Dec ‘21 and are signaling 6 – 12 month bottoms and the onset of new multi-month advances… as Copper is fulfilling multi-year upside objectives (and could peak in 1Q ’22).
What is Significance of Feb 21 – 25 Cycles in Gold… and Why Should Metals Spike Up into That Time Frame?
Will Gold Reach/Exceed 1920/GC by/in Late-Feb ’22? What about cycles in April & Sept ’22??
How Does US Dollar Fit into Equation?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.