Gold Stocks on Target for Surge into Dec. ’19 and Above ~102.00. Gold & Silver Lagging.
11/26/19 Weekly Re-Lay Alert: “Gold & Silver are following their short-term scenario with Silver pulling back enough to twice neutralize its new daily uptrend, as Gold dropped back toward its low. Silver is rallying from that low and should see a rebound into early-Dec. and back above 17.355/SIH.
The XAU traded similar to Silver and 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 remains in a daily uptrend, after briefly turning down on Nov. 21 after peaking while perpetuating an 11 – 13 trading day (~17 calendar day) low close (Sept. 13) – low close (Sept. 30) – low close (Oct. 15) – high close (Nov. 1) – high close (Nov. 20) Cycle Progression that projects the next high close for Dec. 6 – 10.
That was projected to lead to an intervening low on Nov. 26 (+ or – 1 trading day) – the next phase of a 14-day low (Sept. 16) – low (Oct. 1) – low (Oct. 15) – low (Oct. 29) – low (Nov. 12) – low (Nov. 26) – high (Dec. 10) Cycle Progression and the midpoint of the 28 – 29-day Cycle Progression that also projects an advance into Dec. 10/11… dovetailing with weekly cycles (Dec. 2 – 13). That is exactly what is now transpiring.”
XAU reinforces likelihood of advance into Dec. 10 – 13. Price action should clarify what to expect from then into late-Dec. Subsequent cycles provide intriguing potential for late-Dec. – into early-Jan. 2020.
When is Next Multi-Month Cycle Low in Gold?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.