Gold Stocks Leading Reversals Higher: XAU Projects Surge into Dec. ’19 and Above ~102.00. Gold Signals Multi-Week Rally.

11/20/19 Weekly Re-Lay Alert: “Gold & Silver have edged higher since dropping into Nov. 12, when Gold completed successive 10-week corrections at the same time Silver attacked its primary (multi-month) downside target at 16.50 – 16.80/SIZ, fulfilling a larger-magnitude downside objective and setting the stage for a 1 – 2 month low.

Silver has turned its daily trend back up but Gold still needs a daily close above 14.755/GCZ to do the same.  That would also increase the likelihood for a rally into Dec…

The XAU remains more bullish after pulling back to test and hold monthly support (90.54 – 91.17/XAU) and its daily 21 Low MAC support (90.75/XAU) before reversing higher.

It bottomed while fulfilling a 28 – 29 day low (Aug. 19) – low (Sept. 16) – low (Oct. 15) – low (Nov. 12/13) Cycle Progression – triggering a short-term buy signal on the Nov. 12 close… further validating its 18 – 19 week cycle bottom from October.

That projects a likely 28 – 29-day advance into Dec. 10/11 – dovetailing with weekly cycles that project a peak on Dec. 2 – 13.  Short-term cycles indicate a brief, intervening top could take hold on Nov. 22 (+ or – 1 trading day) – particularly if it tests and holds ~98.00.  97.83/XAU is this week’s LHR.”

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Gold stocks leading reversal higher and projected advance into Dec. 9 – 13.  Subsequent cycles provide intriguing potential for late-Dec. – into early-Jan. 2020.

How Would Potential Dollar Sell-off Impact Metals? 

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