Gold & Silver Nearing Late-Jan/Early-Feb. Cycle Highs; Could Silver Surge To/Above 16.07/SIH? Where Could Copper Reach??
Gold & Silver Nearing Late-Jan/Early-Feb. Cycle Highs; Could Silver Surge To/Above 16.07/SIH? Where Could Copper Reach??
01/26/19 Weekly Re-Lay: “Gold & Silver are increasing in volatility as they go through this early-2019 period and set the stage for the coming year… The Jan. 4 high perpetuated a 6 – 7 week low-low-low-low-(high) Cycle Progression that next comes into play in late-Feb. and should time another 1 – 3 week peak.
In the interim, the midpoint of that 46 – 52 day cycle is coming into play on Jan. 28 – 30 and could time an intervening high.
In between, mid-Feb. is expected to set the next 1 – 2 month low – the latest phase of a ~90-degree cycle in Gold that has timed lows in mid-May, mid-Aug. & mid-Nov. 2018. If an impending high is a ‘b’ wave of this overall correction, the mid-Feb. low would be the ‘c’ wave. (Otherwise, it could be an ascending low in Gold.)
As for the coming days, Silver has an intriguing web of upside targets, retracement levels and resistance that could allow for a quick spike up to ~16.07/SIH.
A rally to that level could complete a precise 50% rebound (of the decline from 18.155 down to 13.985/SIH), would retest the Dec. 11, ’17 low (a critical level of support turned into resistance at 16.07/SIH), and would have Silver’s overall rally – from the Nov. low of 13.985/SIH – matching the magnitude of the previous, Dec. ’17 – Jan. ’18 rally from 16.07 – 18.155/SIH.
One (minor) thing that could reinforce this potential would be if Silver set a low on Monday near 15.630/SIH and then rallied. That would create an Intra-Week PLLR at 16.065/SIH…
Copper remains positive and has rallied sharply after spiking to new lows (in fulfillment of its weekly trend pattern) and bottoming on Jan. 2 – 4, the convergence of a ~20-week low-low-(low) Cycle Progression, a 15-week high-high-(low) Cycle Progression and a ~60-degree/2-month low-low-low Cycle Progression.
It remains on track for an initial advance that could stretch into early-Feb. that could approach 2.8000 – 2.8200/HGH.”
Gold, Silver and Gold/Silver Index (XAU) are entering pivotal intermediate cycle highs in late-Jan./early-Feb. when slightly larger-degree cycles peak. The XAU is focused on a pair of cycle highs – in late-Jan./early-Feb. and then in March 2019. A quick surge into Jan. 29 – 31 could set stage for new peak. Copper remains bullish and could/should surge into early-Feb. and above 2.8000/HGH in near term.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.