Gold & Silver Project Add’l Upside; Silver Targeted for Surge to ~24.50/SI; XAU to 137.
11/22/22 Weekly Re-Lay Alert – “Gold & Silver pulled back from their mid-Nov highs – which attacked intra-year trend resistance (Jan ’22 low) at 1793.5 – 1795.0/GCZ and 22.20 – 22.50/SIZ – and are likely to enter a new rally as long as they do not give daily closes below [reserved for subscribers].
They could extend this rally into Nov 28 – 30, the next phase of a 55 – 58 day high-high-high-(high) Cycle Progression in Gold, and exceed the duration of each intermediate rally since early-March – fulfilling the third phase of its July/Aug 4-Shadow Signal (it has already fulfilled the first two phases by subsequently dropping to new lows and then generating the largest magnitude rally since before March ’22).
In Silver, a rally into Nov 25/28 would fulfill a ~6-week low–low-(high) Cycle Progression while matching the 12-week duration of the Dec ’21 – Mar ’22 advance and rebounding 50% of the duration of the Mar – Sept ’22 decline (Nov 28 is precise date)…
The next rally could catapult Silver above 23.00/SIZ and ultimately to 24.50 – 24.90/SIZ.
The XAU & HUI are validating the outlook for another surge into Nov 28 – 30, fulfilling daily cycles AND a ~7-month high-high-low-low-high-(high) Cycle Sequence.
That could propel them up to (or above) secondary upside targets at 130 – 137/XAU & 245 – 251/HUI.”
Silver is confirming analysis for a 6 – 12 month (or longer) low in Sept ’22 – when Silver was expected to overtake Gold and sees stronger rallies due to multiple factors. Silver’s initial intermediate advance is projected to take it up to 24.50 – 25.00/SI before the end of 2022. Gold retested its late-Sept ’22 low and held in early-Nov, triggering an intermediate buy signal in the days that followed.
The XAU & HUI are corroborating this outlook and on track for surges above 130/XAU & 250/HUI. Platinum is showing similar signs of developing strength and should rally through November, potentially surging above 1100/PL.
How Soon Could Silver Reach ~24.50/SI Target?
What Does Gold’s 4Q ’22 Cycle Low Portend into 1Q ‘23?
What is Significance of Cycle Highs in Jan & late-Feb/early-March ’23?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.