Gold Trading: Gold/Metals on Track for Rally into Feb 21 – 25… and to ~1920/GC!
01/15/22 Weekly Re-Lay – “Gold & Silver have hesitated since pulling back from their early-Jan cycle high. They are poised to enter a new rally and could surge to [reserved for subscribers]…
Gold & Silver have consolidated after rallying into Jan 3 – 5 – the fulfillment of a 7-week low-low-high-high Cycle Progression – and then pulling back into Jan 7, when a low was signaled after both metals neutralized their daily uptrends multiple times without turning them down.
In addition, Gold & Silver dropped right to monthly support levels (the downside target for their intra-month downtrends) and held as they were setting the Jan 7 low. That set the stage for an immediate reversal higher – which took hold on Jan 10…
Now that Gold has held below its Jan 3 high for almost two weeks – and validated its 7-week cycle – it is in the prime position to break out and head to higher levels. That should lead to a subsequent, more significant top on Feb. 21 – 28, ’22 – perpetuating that ~7-week low-low-high-high-(high) Cycle Progression and overlapping the time when a 17 – 18 month high (Aug/Sept ’17) – high (Feb ’19) – high (Aug ’20) – high (Feb ’22) Cycle Progression portends a larger-magnitude peak…
On a broader basis, Gold’s overall advance – from the Dec 15 low – could approach its early-June ’21 peak (~1920.0/GC; also range-trading resistance) by late-Feb. That is due to multiple factors including wave equivalence…
Since the early-Aug ’21 intraday low, Gold has had two intermediate rallies with magnitudes of ~160.0/GCG each (2 xs its ~80.0/GC trading ranges). They followed a decline of ~240.0/GC (3 xs the ~80.0/GC ranges) from the early-June peak.
A third rally of ~160.0/GCG – from the Dec 15 low of 1753.0/GCG – projects a surge to ~1913.0/ GCG… just below its 1920.0/GC trading range extreme…
Gold & Silver rallied again, in sync with their daily trends and monthly support levels – both projecting a new advance to begin on Jan 10. That quickly took hold with Gold surging back above its rising daily 21 High MAC on Jan 11 and Silver doing that on Jan 12.
On Friday, they pulled back with Gold closing right at its rising daily 21 High MAC. It needs to reverse back up and close higher on Monday to maintain this positive signal.
Gold & Silver also need to give daily closes above 1833.0/GCG & 23.44/SIH to turn the intra-month trends up and project additional upside in Jan.
The XAU & HUI are moving similar to Gold & Silver and expected to set future peaks in late-Jan and Feb 21 – 28. They rallied sharply into Jan 5 – fulfilling daily & weekly cycle highs – after bottoming in mid-Dec while testing monthly support levels and the monthly HLS (extreme downside target for Dec ’21 at 117.13/XAU).
After peaking in early-Jan, they corrected far enough and long enough to neutralize their daily uptrends but not turn them down. That signaled a secondary bottom and projected a rally to new intra-month highs, which appears to be unfolding.
Daily closes above 133.10/XAU & 259.83/HUI would turn the intra-month trends up and confirm the onset of a new advance. Rallies to ~145.00/XAU & ~280.0/HUI are likely in the coming weeks.
Copper surged to new 2+-month highs and then pulled back almost as abruptly. It remains positive until a daily close below 4.350/HGH. Since 2Q ’20, Copper has been on track for an overall advance from March ’20 into Jan. ’22, a bull market that could be nearing fruition. However, there remains the potential for a spike back to/above 4.900/HGH before that is complete.
Platinum & Palladium are reinforcing bullish signals from mid-Dec and are expected to surge into late-Jan/early-Feb. Platinum spiked higher into Jan 5 and set an initial high but should soon resume its uptrend and forge higher throughout January. Until/unless daily closes below 945.0/PLJ & 1818.0/ PAH, the outlook remains positive.”
Gold & Silver fulfilled projected highs in early-Jan – when a precise 7-week low-low-high-(high) Cycle Progression (peaking on Jan 3 – 5, ’22) and a corresponding 48-day low-high-(high) Cycle Progression (peaking on ~Jan 3… and projecting a higher high on ~Feb. 21) recurred. They pulled back to key support levels and triggered a decisive daily trend buy signal on Jan 7/10… projecting a new advance to take hold.
Gold remains on track to see a surge to 1913 – 1920/GC (if not higher) into late-Feb ’22.
Platinum & Palladium have fulfilled major downside objectives and are signaling 6 – 12 month bottom… as Copper is fulfilling multi-year upside objectives (and could peak in 1Q ’22).
What Does Jan 3 – 5 Gold Peak Project for 1Q ’22… and Cycles in April & Sept/Oct ‘22?
Will Gold Reach/Exceed 1920/GC by/in Late-Feb ’22??
How Does US Dollar Fit into Equation?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.