Gold & Silver Surges: Daily Trend Buy Signal Projects Surge into Feb 21 – 28.
02/02/22 Weekly Re-Lay Alert – “Gold & Silver dropped sharply after peaking a few days early and in the week after Silver tested and held its weekly LHR (24.74/SIH). That has not, however, negated the potential for another rally into higher highs on Feb 21 – 28 – the next phase of Gold’s ~7-week low-low-high-high-(high) Cycle Progression that timed the early-Jan peak.
A top at that time would also fulfill the next phase of an overriding 17 – 18 month high (Aug/Sept ’17) – high (Feb ’19) – high (Aug ’20) – high (Jan/Feb ’22) Cycle Progression. Gold & Silver should not give weekly closes below 1781.3/GCG & 21.94/SIH if they are to maintain that potential.
Both metals tested and held their weekly HLS levels (extreme downside targets for last week) at 1780.1/GCG & 22.30/SIH while correcting last week. Just as important, they neutralized their daily uptrends twice but would not turn those trends down until daily closes below 1778.8/GCG and 22.15/SIH.
That action, combined with the weekly extremes being tested, has spurred an initial rally but more upside is needed to signal that a 2 – 4 week low is in place. One of the first corroborating factors would be the intra-month trends turning up. The daily 21 MACs should also help clarify if/when a bottom is signaled. Currently, that indicator would not turn positive until daily closes above [reserved for subscribers]…
The XAU & HUI remain in congestion – stuck in 1 – 2 month, 2 – 4 month & 4 – 6 month trading ranges after setting 3 – 6 month lows in sync with weekly & monthly cycle lows in late-Sept ‘21. They are also expected to set higher highs in late-Feb/early-Mar ’22 but need some signs of short-term strength in the interim.
Daily closes above 133.00/XAU & 260.0/HUI would turn the 2 – 4 week trends positive. The intra-month trends should also turn positive to confirm.
Platinum & Palladium remain in more bullish patterns and could lead the other metals higher.”
Gold & Silver remain on track for an overall surge into Feb 21 – 28 and to at least 1913 – 1920/GC. Since that would only match previous rallies, and Gold is perceived to be in a higher magnitude advance, it should ultimately exceed 1920/GC and validate the overall outlook for 2022. Short-term cycles & indicators are setting the stage for an intervening low and buy signal at this time.
Platinum & Palladium fulfilled major downside objectives in Dec ‘21 and are signaling 6 – 12 month bottoms and the onset of new multi-month advances… as Copper is fulfilling multi-year upside objectives (and could peak in 1Q ’22).
What is Significance of Feb 21 – 25 Cycles in Gold… and Why Should Metals Spike Up into That Time Frame?
Will Gold Reach/Exceed 1920/GC by/in Late-Feb ’22? What about cycles in April & Sept ’22??
How Does US Dollar Fit into Equation?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.