Gold/Silver/Mining Shares Project Rally into April 18/19 III.
04/09/22 Weekly Re-Lay – “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.
With its early-March peak, Gold fulfilled an 11 – 12 week high-low-low-high Cycle Sequence, a 6-week low-low-(high) Cycle Progression and a ~3-week low-low-low-low-(high) Cycle Progression as Silver completed successive advances of equal duration (5 weeks each; Dec 15 – Jan 20 & Feb 3 – Mar 8).
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 in Gold.
It would now take daily closes above 1948.9/GCM & 25.11/SIK to turn the intra-month trends up and validate that intra-month scenario… As discussed since late-Sept ’21 – when Gold & Silver were forecast to set 6 – 12 month (or longer) lows and embark on new 3 – 6 month and 6 – 12 month advances – the 2021 Gold low had all the earmarks of a major wave ‘4’ (IV) low.
Since that time, Gold has traced out what appears to be a ‘1’ wave rally (Mar ’21 low – June ’21 high), ‘2’ wave correction (June ’21 high – late-Sept ’21 double bottom) and then began a ‘3’ wave rally… That could culminate with a spike high in the coming weeks – leaving time for a wave ‘4’ correction and then a wave ‘5’ of ‘V’ leading into an Aug/Sept ’22 cycle peak.
A peak in the second half of 2022 would also perpetuate a consistent ~7-year low (2001) – low (2008) – low (2015) – high (2022) Cycle Progression and usher in a longer-term period of correction or consolidation (with major support near 1680/GC – the 2021 double bottom and therefore the ‘4th wave of lesser degree’ support on a multi-year basis).”
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. Along with the overall stock markets, metals will enter a dangerous time on/after the Date of Aggression (April 19/20) – when equities are poised to suffer an abrupt sell-off.
Copper fulfilled multi-year upside objectives and has initially peaked in March ’22. Platinum & Palladium are confirming their March ’22 peaks.
What Would April 18/19 Peak Mean for Metals in 2Q/3Q ‘22?
Why Are Equities Also Forecast to Set a Peak in Coming Week(s)?
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.