Gold, Silver & XAU Poised for Consolidation… Before Rally into Late-Jan./early-Feb. What Would Signal Larger Magnitude Uptrend for 2019?

Gold, Silver & XAU Poised for Consolidation… Before Rally into Late-Jan./early-Feb. What Would Signal Larger Magnitude Uptrend for 2019?

01/05/19 INSIIDE Track Intra-month Update: “Gold & Silver remain positive but have fulfilled almost all of what was expected from the late-Nov. buy signals.  Gold spiked above 1290/GCG as Silver attacked 16.00/SIH and both rallied into Jan. 2 – 4, the convergence of Gold’s 6 – 7 week low-low-low-low-(high) Cycle Progression, Gold’s 10-week low-high-(high) Cycle Progression and Silver’s daily cycles.

Both metals maintain the potential for some additional upside into late-Jan./early-Feb., with an intervening pullback likely.

3 – 5 week and 1 – 3 month traders could have entered long positions in Feb. Comex Gold futures at an avg. of 1222.0/GCG and be holding 1/2 of these longs w/avg. open gains of about $6,300/contract.  Risk/exit on a daily close below 1278.1/GCG.  The other 1/2 should have been exited at 1286.5/GCG w/avg. gains of about $6,400/contract.

The XAU remains in congestion but could see a spike high in the coming days and then a pullback into a secondary (higher) low on Jan. 14 – 18, the next phase of a ~9-week/~60-degree high-low-low-(low) Cycle Progression.  The weekly 21 MARC is now down to 73.52/XAU, so that could be a revealing level in the coming week.

3 – 5 week and 1 – 3 month traders could have entered long positions in XAU related vehicles (options, GDX, gold stocks, etc.) when the XAU was trading at 65.30 down to 62.97.  Risk/exit those positions on [reserved for subscribers].  TRADING INVOLVES SUBSTANTIAL RISK!

Gold & Silver have fulfilled 2 – 4 week upside targets and are poised for 2 – 3 week highs on Jan. 2 – 4. followed by higher-magnitude peaks in late-Jan./early-Feb.  Gold stocks (XAU Index) are corroborating and should see their next intermediate low on Jan. 14 – 18 before a rally into late-Jan.

Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.