Why Gold, Silver & XAU Could Surge into Feb. ‘19; ~Dec. 12 = First Target.
Why Gold, Silver & XAU Could Surge into Feb. ‘19; ~Dec. 12 = First Target.
12/01/18 Weekly Re-Lay: “Gold & Silver spiked down to begin the week with Gold dropping right to its weekly HLS (extreme downside target) and holding. That triggered a new 1 – 4 week buy signal and prompted a quick reversal back up.
Gold remains in the time – based on the weekly 21 MAC and its inversely-correlated 21 MARC – when a 2 – 3 week surge becomes more likely (since the 21 MARC is dropping sharply these next 2 weeks and will continue to drop for 4 more weeks after).
If Gold can give a weekly close above 1252.0/GCG, in any of the next few weeks, it would confirm a higher-magnitude advance and could spur acceleration higher.
Silver maintains a convergence of geometric cycles on Dec. 10 – 14, the latest phase of a ~180-degree/6-month low (12/12/17) – high (6/14/18) – high? (Dec. 10 – 14, ‘18) Cycle Progression as well as a ~90-degee high (6/14/18) – low (9/11/18) – high? (Dec. 10 – 14, ‘18) cycle…
Gold & Silver are in neutral daily trends, after spiking lower to begin the week. Gold has since rebounded while Silver spiked to new intra-week lows on Nov. 30.
With Friday’s low, Silver perpetuated a 10 – 11 trading day high (10/02) – high (10/16) – low (10/31) – low (11/14) – low (11/30/18) Cycle Progression. while twice neutralizing its daily uptrend. It would not turn that trend down until a daily close below 14.115/SIH.
1 – 4 week traders can be buying Feb. Comex Gold futures at 1218.3 [reserved for subscribers]… TRADING INVOLVES SUBSTANTIAL RISK!
The XAU remains in a weekly uptrend until a weekly close below 63.75. It pulled back and neutralized its daily uptrend, while reaching the lower end of buying support, before entering a new advance.
If it can give a daily close above 67.56 in the first part of Dec., the XAU could surge to ~73.50 during the month.
On a slightly larger basis, the XAU could see an overall advance into late-Jan./early-Feb. 2019 – the same time of year it set peaks in 2018, 2017 & 2015 and the same time it set its major low in 2016. It has a ~360-degree low-high-high-(high) Cycle Progression targeted at late-Jan./early-Feb. ’19.
1 – 4 week traders can be entering long positions in XAU related instruments (options, GDX, gold stocks, etc.) when the XAU is trading at 65.30 down to 62.90. Risk/exit [reserved for subscribers]” TRADING INVOLVES SUBSTANTIAL RISK!
Gold, Silver & the XAU are rallying from cycle lows on Nov. 13 and expected to extend these rallies into mid-Dec. and ultimately into Feb. 2019. The initial rally in Gold & Silver is expected to last into ~Dec. 12.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.