Gold Trading: Rally into Late-Dec/early-Jan Evolving; 2nd Surge Likely in Jan/Feb ‘22.
12/29/21 Weekly Re-Lay Alert – Recent Alerts have described an expected Dollar correction, projected by its recent spike highs and the cycles & technical indicators surrounding that spike. Already, the ~month-long topping process in the Dollar has opened the door for numerous commodities – ranging from Soybeans, Corn & Cotton to Gold, Silver & Copper – to regain their footing and begin to rally.
Gold & Silver continue to rally in an advance 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).
If it is signaling a larger-magnitude advance, Gold would be expected to [reserved for subscribers]…
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 & Silver both closed above their daily 21 High MACs and then pulled back to test those averages (resistance turned into support) with today’s lows. Since those 21 MACs are reversing higher, they could help spur a new (and accelerated rally) in the coming 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).
Both indexes closed above their daily 21 High MACs and then pulled back to test those averages (resistance turned into support) with today’s lows. Since those 21 MACs are reversing higher, they could help spur a new (and accelerated rally) in the coming days. The inversely-correlated daily 21 MARCs fall sharply over the next three trading days and will likely help spur a reversal higher in the corresponding daily 21 MACs.
Their weekly trend patterns are also projecting additional gains in the coming weeks. 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 in early-Jan.”
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. 21 MACs portend accelerated surge from Dec 29 into Jan 3/4. 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?
How Soon Would 2nd (Jan/Feb) Surge Follow??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.