Gold Trading: Gold Attacks ~1760/GC; Signals Rally into Jan 3 – 5 ’22.
12/15/21 Weekly Re-Lay Alert – Gold & Silver remain in multi-month trading ranges, having corrected after peaking in sync with intermediate cycle highs on Nov 15 – 19. Both have matched the magnitude of their respective Sept ’21 sell-offs – creating some symmetry in these markets while powerfully confirming the ~7-week low-low-(high) Cycle Progression that helped pinpoint the Nov 15 – 19 peaks.
The Nov 15 – 19 highs project a future intermediate high for Jan 3 – 7, ’22 that would fulfill a ~7-week low-low-high-(high) Cycle Progression…
If that is fulfilled, it would project a more significant peak for Feb. 21 – 25, ’22 – the ensuing phase of that ~7-week low-low-high-high-(high) Cycle Progression. That overlaps the time when a 17 – 18 month high (Aug/ Sept ’17) – high (Feb ’19) – high (Aug ’20) – high (Feb ’22) Cycle Progression recurs and should time a larger-magnitude peak.
In the interim, Gold maintains decisive support near 1760/GCG as Silver has related support at ~21.50/SIH. They are holding that support but it would take daily closes above 1795.7/GCG & 23.06/SIH to turn the new intra-month trends up and initially validate the outlook for a multi-week rally into early-Jan and a multi-month rally into mid/late-Feb ‘22…
The XAU & HUI have corrected back toward their late-Sept lows after rallying into cycle highs (mid-Nov) and peaking right at 3 – 4-month resistance, the levels of their late-July/early-Aug highs in mid-Nov. They closed below their early-month lows on Dec 14 and have spiked down into mid-month and to monthly support levels. They need to close the week back above 123.16/XAU & 240.13/HUI if these indexes are to maintain a more positive weekly trend structure.”
Gold & Silver surged from multi-month cycle lows in late-Sept (weekly, monthly & yearly cycle low convergence) into Nov 15 – 19 – when daily & weekly cycles peaked while projecting future highs for Jan 3 – 5 and then a higher high for Feb 21 – 25 ‘22. In the interim, Gold should bottom near pivotal support at ~1760/GC. The next intermediate high is expected in the opening days of Jan ‘22. A precise 7-week low-low-high-(high) Cycle Progression peaks on Jan 3 – 5, ’22.
What Would Jan 3 – 5 Peak Project for 1Q ’22?
Are Gold & Silver Poised for Larger Advances??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.