Gold/Silver Cycles Project Rallies into Late-July & Late-Sept.
06/20/20 Weekly Re-Lay: “Gold & Silver are still trading near their peaks… Gold remains in a relatively narrow trading range, created by the action of April 8 – 14. After setting that 4-day range, Gold has not broken above or below that range for over two months…
From a broader perspective, Silver is steadily retracing after peaking on June 1, 90 days/degrees from Silver’s late-Feb. low, 180 days/degrees from its early-Dec. ’19 low and 270 days/degrees from its early-Sept. ’19 peak.
That cycle is likely to produce a subsequent high in early-Sept. ’20… That Sept. ’20 time frame will become a growing focus as precious metals enter 3Q ’20. Not only is it the next phase of that geometric cycle in Silver, but late-Sept. ’20 is the next phase of an 18-week low-high-high-high-(high) Cycle Progression in Gold that timed the April peak as well as the preceding Jan. ’20 and Sept. ’19 peaks.
As that 18-week cycle was inverting from lows to highs, Gold subsequently set its latest two lows (Nov. ’19 & Mar. ’20) at an 18-week interval. That is a common occurrence in markets (repeating a governing cycle at opposing extremes or creating overlapping cycles), so Gold is focused on July 20 – 24 for another pivotal turning point.
The 18-week low-low could produce a subsequent low but an intervening 9-week low-low-low-high Cycle Progression – that timed the April peak – projects a subsequent high for July 20 – 24. If that were the case, it would also project a subsequent high for late-Sept. ’20…”
Gold & Silver are completing a corrective period, ushered in by cycle highs in late-May/early-June and projected to last into more significant cycle lows in late-June. Metals prepare for most bullish cycles to take hold in 3Q ‘20 and spur larger advances into late-2020 and likely into May 2021. Silver gains expected to exceed Gold gains during that period, as Silver & metals stocks forecast to track closer with (bullish) overall stock market.
How Would Surge into Late-July Impact Overall Outlook?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.