Gold & Silver Poised for Bullish Confirmation

Gold & Silver Poised for Bullish Confirmation;
Monthly Reversals Project Jan. Surge!
XAU Weekly Trend Confirms ~93.00 Target.

01/06/18 INSIIDE Track Intra-month Update:

Gold & Silver have surged and twice neutralized their respective weekly downtrends, after bottoming in the first half of Dec. and fulfilling multiple (yearly, monthly & weekly) cycle lows.  It would take weekly closes above 1327.3/GCG& 17.325/SIH to reverse the weekly trends to up.

Gold produced an outside-month 2 Close Reversal higher as Silver completed a corresponding monthly 2 Close Reversal higher in December – projecting additional upside that is likely to stretch into February.

If an advance in Gold stretches into the final week of that cycle (early-Feb.), it would complete a 29-week low-low-(high) Cycle Progression & a 14-week drop/7-week advance (50%) sequence, as well.

On an intermediate basis, Silver could also still set an important high in Feb. 2018.  Since its bottom in Dec. ’15, Silver has had 5 significant advances – each lasting ~2 months.  A similar, ~2-month advance would take Silver higher into Feb. ’18 – when other monthly cycles converge.

A peak in Feb. 2018 would also complete successive ~7-month advances (Dec. ’15 – July ’16 & July ’17 – Feb. ’18) AND a ~9.5 month high (July ’16) – high (mid-April ’17) – high (Feb. 2018) Cycle Progression.  A .618 rebound in time (12 months down/7 months up) would also peak in Feb. ’18.

Based on wave comparisons & its recurring 2.50 point range, Silver could make it back up to ~18.50/SI.

In the short-term, Gold & Silver are attacking 2 – 3 month resistance (1315 – 1322.0/GCG & 17.45 – 17.60/SIH) and could see a pullback before convincingly breaking above those levels – and mounting a second advance into Feb. 2018.

The XAU has reversed its weekly trend up, surging since bottoming in early-Dec. while perpetuating an 11 – 12 month low-low-low Cycle Progression & fulfilling its weekly HLS pattern (that projected extreme weekly support at 75.77/XAU).

That low fulfilled a 21 – 22 week high-low-(low) Cycle Progression and next comes into play in May 2018 – when another low is more likely.

It has just tested 2 – 3 month resistance at 88.00/XAU and could see a brief pullback before extending this advance into late-Jan.  In addition to turning its weekly trend up, the XAU also closed the week above its weekly 21 High MAC – breaking out of that channel.

Those signals, paradoxically, often presage an initial peak & 1 – 2 week pullback as they time the culmination of an initial advance.  So, Gold stocks could see a correction before mounting the next significant advance.

Multiple monthly targets, extreme targets & key resistance projections group at 92.87 – 93.06/XAU in January and could be tested before month-end.”

Gold, Silver & the XAU have surged into early-Jan. & could see a brief pullback before a new surge unfolds.  The XAU reversed its weekly trend up, powerfully confirming this outlook and related buy signals from early-Dec.  This reinforces the overall outlook for a dramatic rally from the Dec. 11/12 buy signal into late-Jan/early-Feb. 2018.

See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.