Gold & Silver Reinforcing Forecast for New Surge into Dec. 31 – Jan. 4! Price Targets at ~1290+/GCG and ~16.00/SIH Remain in Force. XAU Peaking.
Gold & Silver Reinforcing Forecast for New Surge into Dec. 31 – Jan. 4! Price Targets at ~1290+/GCG and ~16.00/SIH Remain in Force. XAU Peaking.
12/19/18 Weekly Re-Lay Alert: “Gold & Silver diverged a little with Gold adding to its gains – and exceeding 1262.1/GCG by 1 tick before selling off – even as Silver retested and held its Dec. 12 high, in line with intermediate cycles.
Most 1 – 4 week and 1 – 3 month factors remain positive in Gold, leaving open the potential for additional upside in the coming weeks and ultimately into late-Jan./early-Feb. There is still a good chance (until a daily close below 1243.5/GCG) for Gold to move to new highs leading into the final days of December.
A 6 – 7 week low-low-low-low-(high) Cycle Progression projects the next 2 – 3 week high for Dec. 24 – Jan. 4 while a 10-week low-high-(high) Cycle Progression focuses on Dec. 31 – Jan. 4.
In addition, today’s high reinforced weekly & monthly extremes (LHR), creating another weekly LHR for next week (unless today’s high of 1262.2/GCG is exceeded in the next two days) at 1287.9/GCG – in the midst of related extremes at ~1284 – 1290.0/GCG.
1 – 4 week traders could be long Feb. Comex Gold futures from 1218.3 down to 1216.8/GCG and holding these long positions w/avg. open gains of about $3,000/contract. Move sell stops to 1234.6/GCG. Exit 1/2 of these positions if/when Gold hits [reserved for subscribers]. TRADING INVOLVES SUBSTANTIAL RISK!
The XAU nearly made it to 73.00 while fulfilling the potential for an initial high this week – completing successive rallies of equal duration (~5 weeks each). It came within a half point of its monthly extreme upside target (72.66/XAU) while fulfilling these upside wave and cycle objectives.
It also came within a few ticks of its target for an equal-magnitude ‘c’ wave advance (‘a’ wave was in Sept. – Oct.) at 72.40/XAU. And, it fulfilled the potential for its 10th 2 – 4 day surge (in the past couple months) of ~4.00 – 7.50 points. It surged 4.89/XAU in 3 days.
The next part of the XAU’s likely scenario was/is to see a 2 – 3 week period of consolidation before the next advance…
1 – 4 week traders could have entered long positions in XAU related vehicles (options, GDX, gold stocks, etc.) when the XAU was trading at 65.30 down to 62.90. Risk/exit those positions on [reserved for subscribers]. TRADING INVOLVES SUBSTANTIAL RISK!
Gold & Silver are reinforcing forecasts for new surges into early-Jan. while the XAU is validating projections for a 2 – 4 week peak at this time. Gold remains on track to exceed 1290.0/GCG as part of this advance while Silver is increasing the potential for a surge toward 16.00/SI. What would that mean for 2019?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.