Gold, Silver, XAU & HUI Validating Major Cycle Low!
10/04/21 INSIIDE Track Update – 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)… Other factors are corroborating analysis for a low in late-Sept/early-Oct followed by a rally into late-Oct/early-Nov ‘21:
— 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.
Gold has already reversed its daily trend up but Silver cannot do the same thing (and the trigger point is not yet determined) until Oct 7, at the very earliest. Its first upside objective is at 23.70 – 24.00/SIZ.
The XAU & HUI just completed the third week after testing and holding their respective weekly HLS levels. That was 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-low-low-low-high-high-(low) Cycle Sequence. That should spur a rally into [reserved for subscribers]…
When viewed all together, these cycles argue strongly for a multi-month low in late-Sept and 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.