Gold Trading: Initial Rally into Late-Dec/Early-Jan on Track; 2nd Surge to Follow?
12/27/21 Weekly Re-Lay – Gold & Silver continue to rally in a strong move that was projected to stretch from mid-Dec. – when daily cycles bottomed as support held – into Jan 3 – 7, ’22 – the latest phase of a ~7-week low-low-high-(high) Cycle Progression that helped pinpoint the Nov 15 – 19 peak…
A peak in early-Jan. would project a more significant top for Feb. 21 – 25, ’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.
It would also complete another 22 – 25 day rally that matches the average of previous sharp rallies that began in late-March (from pivotal range-trading support at 1680), late-June (from pivotal range-trading support at 1760), early-Aug (from 1680) and late-Sept (from mid-range-trading support at 1720).
Both Gold & Silver triggered outside-week/2 Close Reversal buy signals on Dec 17 – reinforcing the outlook into early-Jan ’22. A surge to ~25.50/SIH is possible.
Gold has closed above its daily 21 High MAC and is in the process of reversing that average higher. Silver is similar and both could turn their daily 21 High MACs up in the next 1 – 3 days.
The XAU & HUI are similar and have rallied sharply after spiking down into mid-month and to monthly support levels with the XAU also attacking its monthly HLS (extreme downside target for Dec ’21) at 117.13. That strengthened the outlook for a subsequent surge into early-Jan (as part of a larger, overall advance).
Their weekly trend patterns concurred. If they can now close above 133.58/XAU & 260.34/HUI (Dec 1 highs), they would complete Intra-month V Reversals higher and project follow-through upside.”
Gold & Silver bottomed near pivotal support (~1760/GC) and should rally into late-Dec with some carry-over buying likely in opening days of Jan ‘22. A precise 7-week low-low-high-(high) Cycle Progression peaks on Jan 3 – 5, ’22 whereas a corresponding 48-day low-high-(high) Cycle Progression projects a peak on ~Jan 3 (and then a higher high on ~Feb. 21).
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.