Gold Trading: Jan 7 Low Projects Rally into Feb 21 – 25… and to ~1920/GC or Higher!
01/08/22 Weekly Re-Lay – “Gold & Silver fulfilled projections for a new rally into early-Jan but could see a subsequent rally into late-Feb… Gold & Silver rallied into Jan 3 – 5, initially fulfilling analysis for a new advance from mid-Dec. into Jan 3 – 7, ’22 – the latest phase of a ~7-week low-low-high-(high) Cycle Progression. Combined with the preceding high on Nov 15 – 19, this reinforces the outlook for a subsequent rally into the second half of Feb ’22.
This latest rally fulfilled the outside-week/2 Close Reversal buy signals on Dec 17 – projecting a subsequent, 2 – 3 week surge into the opening days of January. On a near-term basis, Gold & Silver could not give daily closes above the Dec 31 highs as they rallied into Jan 3 – 5, failing to show any additional strength and ushering in the time for a quick pullback.
Reinforcing the potential for another rally (into Feb 21 – 28), Gold turned its weekly 21 High MAC up and now needs a weekly close above that level… to signal new strength and the onset of the next phase of this overall recovery.
The weekly LHRs are converging in Gold… That remains the primary upside objective stemming from the mid-Dec. low.
This early-Jan peak powerfully corroborates the outlook for 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.
The intervening correction (now unfolding) is likely to be shorter and could have already set its low. If a low was just set on Jan 7, it would create a ~3-week low-low-(high) Cycle Progression that should prompt a rally into Jan 31 – Feb 4 (and then a 3-week high – high into Feb. 21 – 25)…
Both metals have neutralized their daily uptrends multiple times but would not turn them down until daily closes below 1781.3/GCG & 21.94/SIH.
In addition, Gold & Silver both dropped right to monthly support levels (the downside target for their intra-month downtrends) and initially held. That, too, could usher in a reversal higher immediately.
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…
The XAU & HUI 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). They set their early-Jan peaks while attacking their declining weekly 21 High MACs (~133.80/XAU & ~258.50/HUI) – reinforcing the potential for a 1 – 2 week (or longer) peak.
They are following a similar cycle path as Gold & Silver, setting highs on Nov 15 – 19 that projected future peaks for Jan 3 – 7 and Feb 21 – 28, ‘22. By precisely fulfilling that ~7-week cycle, with the Jan 5 highs, they have reinforced the outlook for subsequent highs on Feb 21 – 28.
However, they also have the convergence of 5 – 5.5-month & 10 – 11-month high-high cycles in April ’22 – that overlap the ensuing phase of that ~7-week high-high cycle – and could time a more significant peak at that time. (An intervening low is likely in [reserved for subscribers].)
Copper set its highest close on Jan 4 and then pulled back, in sync with other metals. It remains on track, however, for additional upside in Jan ’22.
Platinum & Palladium are reinforcing bullish signals from mid-Dec and are expected to surge into [reserved for subscribers]. Platinum spiked higher into Jan 5 and set an initial high but should soon resume its uptrend and forge higher throughout January.”
Gold & Silver fulfilled projected rally into opening days of Jan ’22 – including 21 MAC signals (portending surge from Dec 29 into Jan 3/4), 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). They pulled back to key support levels and triggered a decisive daily trend buy signal on Jan 7… projecting a new advance to take hold
Gold remains on track to see 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.
What Would Jan 3 – 5 Gold Peak Project for 1Q ’22?
Will Gold See Higher Highs in Coming Weeks?
Will Gold Exceed 1920/GC in 1Q ’22???
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.