Gold Trading; Metals Fulfill Potential for March 7 – 11 Spike High! What’s Next?
03/09/22 Weekly Re-Lay Alert – “Gold & Silver surged to new highs and to weekly resistance and daily extreme resistance, initially fulfilling the potential for an accelerated surge into a Gold peak on March 7 – 14. If confirmed, that would fulfill a 41 – 43 day low-low-high-(high) Cycle Progression, an 11 – 12 week high-low-low-high Cycle Sequence, a 6-week low-low-(high) Cycle Progression and ~3-week low-low-low-low-(high) Cycle Progression.
In the case of Silver, it initially fulfilled analysis for a rally into March 7 – 11 – completing successive advances of 5 weeks each.
On a broader basis, Gold could see a multi-month peak take hold on [reserved for subscribers]…
The XAU & HUI have entered the accelerated phase of an overall advance that took hold when longer-term cycles bottomed in late-Sept ’21. They have entered the time when an intermediate high could be set but an accelerated spike up was expected as part of that peak.
They have already (initially) fulfilled that but could spike as high as monthly & weekly LHRs (extreme upside targets) that converge around 174 – 175/XAU & 340 – 345/HUI. On balance, these indexes and mining shares could move progressively higher into Aug/Sept ‘22 (even if a prolonged correction/consolidation follows a peak in March/April ’22).
Platinum & Palladium also accelerated higher, fulfilling near-term and intermediate term outlooks.
Palladium is powerfully validating analysis for a new bull market after bottoming in Dec ’21 when it reached downside price objectives for that decline AND the support from which a new advance should take hold.
Palladium has its own series of ranges at ~500, ~1700 & ~2900/PA. If it convincingly breaks above 2900/PA, Palladium could reach ~4100/PA as part of this overall advance. It has spiked well above 2900/PAM but needs a weekly close above that level to signal a breakout.
On a 1 – 2 year basis, the next multi-quarter peak is most likely in 3Q ’22 – the fulfillment of a ~15-month high-high-(high) Cycle Progression. That dovetails with cycle analysis in most other metals & mining shares.”
Gold & Silver are fulfilling the 6 – 12 month outlook for major surges in 2022 – creating a series of ascending highs that could stretch into Aug/Sept ’22. Platinum, Palladium & Gold/Silver action projected new surges this week, which have just been fulfilled.
Silver cycles are arguing for a pivotal peak in March ’22 – the latest phase of its ~6-month Cycle Progression. XAU & HUI cycles concur and projected additional surges into March 7/8 ’22 (when they would equal/exceed the duration of previous rally). Platinum & Palladium are reinforcing projected multi-month advances after 6 – 12 month bottoms were signaled in Dec ’21; Copper is fulfilling multi-year upside objectives and could peak in March ’22.
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Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.