Gold/Silver & XAU/HUI Confirm May 20 Cycle Highs; Where is Support?
05-25-24 – Gold & Silver are correcting after peaking on May 20th and fulfilling key upside objectives… Gold & Silver surged into May 20th, fulfilling the buy signals of May 2 – 6th and setting initial multi-week highs. At the time, Gold set new all-time highs (fulfilling its weekly trend) as Silver spiked to new multi-year highs and right to its initial upside target at 31.50 – 32.20/SIN.
It peaked right at its intraday Preliminary LLR (29.70 low – 31.18 low projected May 20th high near 32.66/SIN) and spurred a pullback that could see Silver retest [reserved for subscribers]…
Gold & Silver surged into the greatest synergy of cycles on May 17/20th, fulfilling additional upside objectives and setting the stage for a correction. They have begun to sell off but need daily closes below 2326/GCM (2348/GCQ) & 3019/SIN to signal a higher-magnitude pullback.
If triggered, that would increase the potential for Gold to dip below its early-May low (2285/GCM & 2308/GCQ) and Silver to test multi-week support – and a 50% retracement – around 29.50/SIN.
The XAU & HUI fulfilled projections for overall surges into ~May 20th – when a multi-week peak would be most likely. The XAU was forecast to surge to at least ~148.00/XAU and potentially to 150.50 – 152.00/XAU.
These indexes rallied into May 20th with the XAU topping at 152.02 before reversing lower. The May 20th high also completed successive advances of equal duration (~80 days each) while completing symmetry between multi-month peaks. It fulfilled a ~5-month high (July 18 – 22) – high (Dec 18 – 22) – (high; May 18 – 22, 2024) Cycle Progression…
On a larger-scale basis, the XAU & HUI remain in multi-month uptrends that could ultimately extend into September ’24 before a 6 – 12-month peak would be most likely.
That would complete or fulfill multiple wave relationships, cycles and timing indicators while perpetuating a ~2-Year Cycle that has timed all of the multi-year swings since the major bottom in early-2016 – with each extreme occurring in the August/September time frame.
That ~2-Year Cycle pinpointed the August ’16 high, Sept ’18 low, Aug ’20 high and Sept 2022 low – and could time another peak in Aug/Sept 2024.
1 – 3 month traders & investors could have entered long positions in related instruments (ETFs, stocks, etc.) when the XAU was at 102.60 – 106.00 in late-February ‘24 – when the buy signal was published – and exited 1/3 of those positions when 134.00/XAU was hit. Another 1/3 could have been exited when 138.00/XAU was hit.
Exit the remaining 1/3 now. TRADING INVOLVES SUBSTANTIAL RISK!
Gold & Silver fulfilled their early-May buy signals, surging right to upside price targets and into intermediate cycle highs on May 17/20th. A multi-week top was projected and is triggering a sizeable decline.
The action since late-2022 is powerfully validating the onset of a new 40-Year Cycle of Currency War in which Gold & Silver possess unique potential for 2024! Gold is acting as the ‘Canary in the Coal Mine’ and has fulfilled projections to break out to the upside. However, an ongoing battle with the Dollar Index should intensify volatility in preparation for the biggest surprises in 2025.
Gold & Silver Trigger New Signals… Project Surges into May 17/20th.
Silver Showing Relative Strength.
40-Year Cycle (Projected) Impact on 2024/2025 Powerfully Reinforced.
40-Year Cycle – Dollar Dominion Dilemma & Demise
40-Year Cycle – Currency Wars & Cryptos
Solar, Seismic & Gold Intensity Cycles
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.