Mining Shares (XAU/HUI Indexes) Showing Greater Strength Than Gold/Silver.
03/26/22 Weekly Re-Lay – “Gold & Silver have consolidated after surging into March 7 – 11, when a multi-week peak was most likely based on a myriad of cycles, and then correcting sharply in the week that followed.
With its early-March peak, Gold fulfilled an 11 – 12 week high-low-low-high Cycle Sequence as well as a corroborating 6-week low-low-(high) Cycle Progression and ~3-week low-low-low-low-(high) Cycle Progression with that high…
The March 8 peak also precisely fulfilled a 41 – 42 day low-low-high-(high) Cycle Progression that projects a future intermediate peak for April 18/19 (the Date of Aggression and the culmination of the first ‘month’ of the new Natural Year)…
On March 8, Gold surged to new highs and its weekly LHR (the extreme weekly upside target for March 7 – 11) at 2071.2/GCJ, fulfilling the potential for an accelerated surge into an initial peak and topping almost precisely at its next range-trading target (2080.0/GC).
That also had Gold retesting its Aug ’20 peak on a continuous-contract basis – its all-time top. That is an obvious level for an initial high and some profit-taking, but is also a level that will most likely be exceeded in the coming weeks/months.
While Gold was surging to that pivotal target, Silver rallied to its 2022 range-trading target – a series of swings that have remained well-defined since early-Jan – with 27.50/SIK representing the latest upside target…
The XAU & HUI remain relatively stronger and only retraced to their rising daily 21 High MACs – remaining above those averages and in a more positive structure that should propel them to new (multi-year?) highs in the coming days/week.
They bottomed in mid-March – 3 months/90 degrees from their mid-Dec ’21 low – after retracing for the same amount of time as they did in late-Jan (wave equality) and precisely at the rising 21 High MACs, reinforcing their unfolding uptrends and projecting a new wave higher, which is likely the 5th wave of a 5-wave advance from mid-Dec… Critical targets remain at [reserved for subscribers]…
Platinum & Palladium are weaker after Platinum fulfilled weekly & monthly cycles with its early-March ’22 peak. Palladium pulled back to its rising weekly 21 High MAC and could resume rallying.
Copper is reinforcing signs of a multi-month peak after topping in line with a 21 – 22-week high-high-high-high-high Cycle Progression while fulfilling its ~2-year outlook. 445.0/HGK is now key support.”
Gold & Silver fulfilled the 3 – 6 month outlooks for sharp rallies into late-Feb/early-March ’22 and peaked – along with a myriad of cycle highs – on March 8. At the time Gold retested its Aug ’20 major peak as Silver fulfilled a critical upside range-trading target (~27.50/SI). Those highs, particularly in Gold, project a future multi-week peak for April 18/19 as part of the overall outlook for 2022.
Silver fulfilled monthly cycles that projected a strong rally from late-Sept ’21 into a pivotal high in March ’22 – the latest phase of its ~6-month Cycle Progression and a possible precursor to a more significant peak in ~Sept ’22 (6 months later). XAU & HUI cycles initially peaked on March 7/8 ’22 but are showing more relative strength than the actual metals and are expected to rally to new intra-year or multi-year highs in the coming weeks. Copper fulfilled multi-year upside objectives and has initially peaked in March ’22. Platinum & Palladium are confirming their March ’22 peaks.
What Do Precious Metals Cycles & War Cycles Portend for 2022 (into 2025)?
What Does Developing Divergence Between Metals & Mining Shares Project?
How Could Solar & Seismic Cycles Impact Metals in 2022/2023??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.