Gold/Silver/XAU Trigger Initial Sell Signals; Need Confirmation; Quick Sell-offs Likely.
11-05-24 – “Gold & Silver are showing signs of topping with both having attacked pivotal upside targets in late-October – the ideal time for a multi-week or multi-month high. That also fulfilled/completed the October 11th weekly 2 Close Reversal signal in Gold – projecting a new 2 – 3 week surge.
From a price perspective, Silver led this topping phase, attacking its weekly LHR on Oct 18th, increasing the likelihood for a 1 – 2 month peak in the subsequent week(s). In the following week, it spiked up to monthly resistance (33.96 – 34.55/SIZ) and peaked while fulfilling the objective for a wave ‘v’ of ‘5’ of ‘III’ wave peak.
Silver peaked on October 22nd – along with related cycles in the XAU Index – while Gold waited another week to fulfill its own cycles.
A peak in late-October ‘24 would fulfill the latest phase of an ongoing ~1-year/~12.5-month high-high-low (Aug ’21) – low (Sept ’22) – low (Oct ’23) – (high; late-Oct 2024) Cycle Progression.
The related ~54-week cycle and 27-week low-high-(high) Cycle Progressions peaked last week (into October 28th) – when both set their highest weekly closes.
On a near-term basis, Gold stretched its intraday/intra-week high into October 30th, fulfilling a ~5-week/34 – 37-day low-high-high-high-(high; Oct 30) Cycle Progression.
Gold & Silver would need to turn their new intra-month trends down to confirm recent peaks. It would take daily closes below 2733/GCZ & 32.35/SIZ to accomplish that… In the case of both metals, that could spur a drop back to their October 8th lows… or lower.
The XAU & HUI fulfilled upside projections in price and time as the XAU surged into a synergistic convergence of geometric cycle highs on October 21/22nd and topped while fulfilling an ~18-week low-low-low-low-(high; Oct 21 – 25, 2024 Cycle Progression as well as the following:
- ~4-month low (Feb 13) – low (June 17) – (high; October 21/22, 2024) Cycle Progression.
- ~2-month low (Feb 13) – low (April 16) – low (June 17) – high (Aug 20) – (high; October 21/22, 2024) Cycle Progression.
- ~3-month high (Jan 12) – high (April 12) – high (July 16/17) – (high; October 16 – 22, 2024) Cycle Progression.
That also fulfilled a similar ~1-year/~12.5-month high-high-low (Aug ’21) – low (Sept ’22) – low (Oct ’23) – (high; late-Oct 2024) Cycle Progression as in Gold. They have since sold off and turned their daily trends down, increasing the likelihood for a plunge back to their early-August ’24 lows.
That dovetails with the monthly HLS (extreme downside target for Nov ’24) at 135.63/XAU. Daily closes below 158.30/XAU & 315.24/HUI would confirm.”
Gold, Silver & XAU fulfilled projections for a surge into late-October ’24 – when a multi-month peak was/is projected to take hold and trigger a multi-month corrective phase. At the same time, they reinforced multi-year uptrend and project focus to key time frames in 2025… for future highs. Late-Jan/early-Feb, late-April/early-May & late-Oct/early-Nov 2025 represent future phases of the corresponding cycles.
The 40-Year Cycle of Currency War continues to impact Gold and its relationship to the US Dollar. Gold fulfilled major cycles in Sept/Oct 2022 when it perpetuated a 7-Year Cycle of consistent lows (2001 – 2008 – 2015 – 2022) that coincided with the onset of a new 40-Year Cycle of Currency War AND 80-Year Cycle of War and projected a multi-year bull market to follow…
Outlook 2022/23: A New Currency War Begins
Outlook 2023: A New Currency War & Inflation
40-Year Cycle – Dollar Dominion, Dilemma & Demise
Late-2023 was projected to reaffirm this analysis when Middle East War Cycles were projected to reignite (in October 2023… exactly when war broke out)…
Middle East War Cycles Collide in Late-2023
In the subsequent months, Gold powerfully validated that cycle and projected a breakout surge in the months/year to follow the early-October 2023 low…
Solar, Seismic & Gold Intensity Cycles
Gold & Silver (as well as US Dollar) have fulfilled the latest phases of their 2022 – 2027 outlooks with Gold & Silver surging into late-October ’24 and reinforcing analysis for a series of future peaks projected for 2025 & 2026… as Gold’s bull market continues. The XAU is similar and portends a drop below 136.00/XAU as part/all of a developing correction.
See current publications for the most updated analysis.
INSIIDE Track Trading – Subscriptions Order Page
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.