Gold/Silver/Mining Shares Project Rally into April 18/19.
04/02/22 Weekly Re-Lay – “Gold & Silver remain positive and could see new advances into mid-April… Gold & Silver have consolidated after surging into March 7 – 11, when a multi-week peak was expected, and then correcting sharply in the week that followed.
On March 8, Gold surged to new highs and its weekly LHR (the extreme weekly upside target for March 7 – 11) at 2071.2/GCJ, fulfilling the potential for an accelerated surge into a peak and topping precisely at its overall range-trading target (2080.0/GC). It has since pulled back and repeatedly held 1920.0/GCM – range support – on weekly closes.
The March 8 peak also had Gold retesting its Aug ’20 peak – its all-time top. That is an obvious level for an initial high and pullback, but is also a level that will most likely be exceeded in the coming weeks/months.
While Gold was surging to that pivotal target, Silver rallied to its 2022 range-trading target – a series of swings that have remained well-defined since early-Jan – with 27.50/SIK representing the latest upside target.
When Silver peaked, it completed successive advances of equal duration (5 weeks each; Dec 15 – Jan 20 & Feb 3 – Mar 8). With its early-March peak, Gold fulfilled an 11 – 12 week high-low-low-high Cycle Sequence, a corroborating 6-week low-low-(high) Cycle Progression and a ~3-week low-low-low-low-(high) Cycle Progression.
That was/is expected to lead to a subsequent peak around April 18/19 (the Date of Aggression and the culmination of the first ‘month’ of the new Natural Year) – the next phase of the 41 – 42 day low-low-high-(high) Cycle Progression that helped pinpoint the March 8 high.
Silver’s price action is reinforcing the overall outlook as it dropped back to its month-opening lows and held (without turning the daily trend down) while also testing and holding its rising weekly 21 High MAC. That should spur a new rally…
Gold & Silver have corrected since surging into early-March and initially fulfilling the outlook for 4Q ‘21/1Q ‘22…
The XAU & HUI remain relatively stronger and are still likely to spike higher in the coming days and fulfill a ~42-week low-high-high-high-(high) Cycle Progression. Since these are more ‘stocks’ than ‘metals’, they could set a pair of peaks along with the broader market – ideally on ~April 4 – 6 and then April 18 – 22.
Critical targets remain at [reserved for subscribers]…
Platinum & Palladium are weaker after Platinum fulfilled weekly & monthly cycles with its early-March ’22 peak… Palladium dropped to its rising weekly 21 Low MAC while twice neutralizing its weekly uptrend, also setting the stage for an intermediate low. It spiked into its year-opening range but closed the week back above that range – leaving Palladium in an intra-year uptrend.
It is likely to see subsequent highs in early-June and Sept ’22 – when longer-term cycles peak.
Copper is reinforcing signs of a multi-month peak after topping in line with a 21 – 22-week high-high-high-high-high Cycle Progression while fulfilling its ~2-year outlook. 445.0/HGK is now key support.”
Gold, Silver & XAU/HUI Indexes projecting new rallies into April 18/19 – when Gold cycles portend the next multi-week peak. Mining shares are relatively stronger than metals and could see bigger gains.
Copper fulfilled multi-year upside objectives and has initially peaked in March ’22. Platinum & Palladium are confirming their March ’22 peaks.
What Does Developing Divergence Between Metals & Mining Shares Portend?
How Will This Impact April 18/19 (Next) Cycle High… and What Follows?
How Could Solar & Seismic Cycles Impact Metals in 2022/2023??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.