Gold Trading: Gold Confirms Nov 15 – 19 Cycle Peak; ~1760/GC = Key Support.

11/23/21 Weekly Re-Lay Alert – Gold & Silver turned their daily trends down, elevating this correction to a higher magnitude while more powerfully confirming the ~7-week low-low-(high) Cycle Progression that was projected to usher in a multi-week high in Gold on Nov 15 – 19.

Gold also topped in precise lockstep 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…the next phase of the overlapping ~7-week cycle (that timed the Nov 16/17 peak) is on Jan. 3 – 7, ’22 and could time a higher magnitude peak.  Jan. 6 is also when the 17 trading-day cycle (next) recurs.

 In the interim, Gold & Silver have suffered a sharper sell-off in the weeks following Gold’s test of its weekly LHR levels (1865.1 – 1867.8/GCZ), Silver’s weekly trend reversal, and Gold’s reversal of its weekly 21 MAC and 40 MACs.  All of those indicators portend reactive sell-offs, which are now unfolding and have recently shown they are of one magnitude higher than the late-Oct/early-Nov corrections.

Gold has its weekly 21 & 40 Low MAC, 21 & 40 Low MARCs, and key range-trading support – all at 1755 – 1765/GCZ…The XAU & HUI attacked their late-July/early-Aug highs and have sold off – signaling a higher-magnitude pullback”

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Gold & Silver, XAU & HUI Indexes surged from multi-month cycle lows in late-Sept (when weekly, monthly & yearly cycles bottomed) into Nov 15 – 19 – when daily & weekly cycles peaked.  Gold topped near 1880/GCZ – the primary upside target for this overall advance – and could drop to pivotal support near 1760/GC.  The next comparable peak is expected on Jan 3 – 7, ’22.

Is Secondary Low Likely Near 1760/GC?

Could That Spur New Multi-Month Advance??   

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