Gold, Silver, XAU & HUI Signaling Major Bottom!
10/02/21 Weekly Re-Lay – Gold & Silver fulfilled intermediate analysis for overall declines into late-Sept/early-Oct with Gold testing weekly support and bottoming without giving a daily close below 1720.0/GCZ (pivot point).
They reversed higher on Sept 30 – 180 degrees (6 months) from the Mar 30/31 lows in metals and mining shares – an ideal time for a low. They have also initially fulfilled monthly and weekly cycles in Silver that projected a multi-month low in late-Sept/early-Oct ‘21.
That would fulfill a ~6-month high (Sept ’19) – low (Mar ’20) – low (Sept ’20) – low (Mar ’21) – low (Sept ’21) Cycle Progression and a corresponding 27 – 28 week high (Feb ’19) – high (Sept ’19) – low (Mar ’20) – low (Sept ’20) – low (Mar ’21) – low (Oct 4 – 15) Cycle Progression.
Silver nearly completed a 50% retracement of its Mar – Aug ’20 advance (~12.00 to ~30.00/SI) and this low, if confirmed, would likely lead to a rally into [reserved for subscribers]…
— Gold’s weekly HLS indicator projected a 1 – 2 month low for the second half of Sept. (by Oct 1).
— Both Gold & Silver held key support (1740/GC & 22.00/SI) on a weekly basis while creating spike lows and weekly 2 Close Reversals higher.
— XAU & HUI cycles and price action signaled a multi-month bottom by Oct 1.
— They also just completed the time when a consistent 29 – 31 week low (Nov ’18) – low (May ’19) – high (Dec ‘19/ Jan ’20) – high (Aug ’20) – low (Mar ’21) – low (Sept 17 – Oct 1, ’21) Cycle Sequence projected a multi-month bottom in both the XAU & HUI, as well as many mining shares.
— The corresponding monthly cycle (linked to the 21 – 22-week cycle) in Gold – as well as a corroborating one in the XAU – projects the next high in Nov. ’21 – the next phase of a ~5-month low (Mar ’20) – high (Aug ’20) – high (Jan ’21) – high (Jun ’21) – (high) Cycle Progression…
The XAU & HUI just completed the third week after testing and holding their respective weekly HLS levels. That is when an intermediate low was most likely. That potential was reinforced by a myriad of other cycles and timing indicators…
They just fulfilled a consistent 29 – 31 week low (Nov ’18) – low (May ’19) – high (Dec ‘19/ Jan ’20) – high (Aug ’20) – low (Mar ’21) – low (Sept 17 – Oct 1, ’21) Cycle Sequence.
On a broader scale, the HUI has followed a consistent ~3-Year Cycle since Sept. 2012. That created a ~3-year high (Sept ’12) – low (Sept ’15) – low (Sept ’18) – low (Sept ’21) Cycle Progression and the likelihood for another low in Sept. 2021.
That ~3-Year Cycle subdivided into an 18-month low-low cycle – creating lows in Sept ’15, Mar ’17, Sept ’18 & Mar ’20 while projecting a subsequent low for late-Sept ’21.
On an intermediate basis, the XAU projected a drop into the end of Sept in sync with a ~9-week low (Sept ’20) – low (Nov ’20) – low (Jan ’21) – low (Mar ’21) – high (May ’21) – high (Aug ’21) – low (Oct 1 – 8, ‘21) Cycle Sequence.
When viewed all together, these cycles argue strongly for a multi-month low in late-Sept/early-Oct. A subsequent rally could last into Nov. ’21 when the XAU has a 5-month low-low-low-high-high-high-(high) Cycle Progression.”
Gold & Silver as well as mining shares (XAU & HUI Indexes) fulfilled projections for an overall bearish period from early-Aug into late-Sept when weekly, monthly & yearly cycles bottomed in Silver as well as the XAU & HUI. Silver is likely setting the low of a ‘c’ wave decline… ushering in the time for a new rally into 1Q ’22. The XAU attacked 3 – 6 month and 6 – 12 month price support near 115.00/XAU – where a 3 – 6 month (or longer) bottom is most likely.
All these factors powerfully reinforce analysis for a major low at this time!
What is significance of future Nov ’21 cycle high (that could last 1 – 2 months)?
What does this mean for the next multi-month cycle high in 1Q ’22??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.