Gold Trading: Gold Attacks ~1880/GCZ Target During Nov 15 – 19 Cycle High.
11/20/21 Weekly Re-Lay – Gold & Silver rallied into the past week, fulfilling a ~7-week low-low-(high) Cycle Progression while reinforcing the significance of the lows set in late-Sept ’21 – when weekly, monthly & multi-year cycles bottomed in metals and mining shares.
Gold also topped in precise sync with a related 17 trading day high-low-high-(high) Cycle Sequence – a cycle that has governed each swing in Gold since the middle of June ’21… Silver continues to reinforce the low it set in late-Sept. that bottomed at decisive support while fulfilling multi-week and multi-month cycles. That combination projected a significant advance during 4Q ’21 and likely stretching into Jan ‘22.
The recent reactive sell-off is coming shortly after Silver turned its weekly trend up while Gold turned its weekly 21 MAC and 40 MAC up and tested a pair of weekly LHR levels at 1865.1 – 1867.8/GCZ. That is why an initial top was likely this past week and why this reactive pullback was likely…”
Gold & Silver, XAU & HUI Indexes surged from multi-month cycle lows in late-Sept (when weekly, monthly & yearly cycles bottomed) and stretched those rallies into Nov 15 – 19 – the most likely week for a peak in Gold. Gold peaked near 1880/GCZ – the primary upside target for this overall advance.
Are Higher Highs Likely in 1Q ’22??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.