Gold/Silver September Shift; Silver Taking Lead, Should Rally Faster.
09/21/22 Weekly Re-Lay Alert – “Gold & Silver are expanding their recent divergence with Silver pulling back to a ‘b’ wave low – and holding short-term support near 18.70/SIZ – as Gold dropped to new lows… That was the first phase of a 21 MAC reversal pattern…
It now needs a daily close above 20.00/SIZ to signal a breakout higher and spur an accelerated surge.
That could easily reach ~22.50/SIZ – equaling Silver’s Feb/Mar ’22 rally while testing the 2022 opening range and the highs of late-May/early-June ’22. (20.26/SIZ is the current weekly LHR.)
A weekly close above 22.20/SIZ would be necessary to neutralize the intra-year downtrend and potentially elevate this rebound.
(If Silver manages to rally above and close above 22.80/SIZ, it would create a more bullish scenario for the ensuing correction. The ramifications of that would [reserved for subscribers]…
Silver has a second range of potential upside targets (IF price action corroborates) at xx.xx – xx.xx/SIZ.
Consistent with what was described in recent months, Sept ’22 was/is the likely time for Silver to begin to overtake Gold – in respect to the magnitude of its gains. Platinum is trading similarly with both it and Palladium showing signs of an impending, accelerated rally.”
Silver is slowly validating what has been discussed throughout this year – that Sept ’22 would usher in the time when Silver begins to overtake Gold and sees stronger rallies due to multiple factors. Silver’s initial intermediate advance is projected to take it up to 22.50/SIZ, but the subsequent action is what could be the most revealing.
How Quickly Can Silver Surge to ~22.50/SIZ? What is Subsequent Upside Target?
What Does (Potential) Shift of Gold/Silver Ratio Portend??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.