Platinum Concurs w/Silver & Gold; Project Nov ’22 Surge!
11/05/22 Weekly Re-Lay – “Gold & Silver are adhering to daily & intra-month trend patterns with Gold spiking to new lows as both metals set intra-month lows in the first three trading days of Nov ‘22. Both have turned their intra-month trends up, projecting rallies into mid-Nov.
The XAU & HUI are rallying after retesting support (and the XAU’s range target near 95.00). They remain on track to surge into mid-Nov and set an intermediate high by/on Nov 11 – 18, ’22… when weekly cycles converge. Initial upside targets are at 117 – 120/XAU & 224 – 230/HUI… with extreme targets (for Nov ’22) at ~130/XAU & ~245/HUI.
Platinum & Palladium remain mixed after Platinum fulfilled a 12 – 13 week low-low-low-high-high-(low) Cycle Sequence at the late-Aug lows… and has steadily gained ever since. Platinum again closed above its weekly 21 High MAC and could turn the direction of that average up, in the coming week, with a rally to 973.0/PLF.
Over the next 4+ weeks, the inversely-correlated weekly 21 MARC will plunge – likely pushing the weekly 21 MAC higher and spurring an initial rally above 1040/PLF and potentially to ~1130/PLF – its range-trading target.
Like Silver, Platinum’s relationship to Gold was timed to shift in Sept ’22 and see proportionately-greater gains than Gold over the next 1 – 2 years. It has a 12 – 13 month low-low-low-low-high-high-high-(high; Mar/Apr ’23) Cycle Progression that portends the next multi-month peak in ~April ’23.
Palladium remains in a ~6-month trading range between ~1800 & ~2300/PAZ. This could remain the case through the month of November.”
Platinum & Silver are validating projections for a Sept ’22 shift when they begin to overtake Gold (reversal in Gold/Silver ratio) and sees stronger rallies due to multiple factors. Silver’s initial intermediate advance is projected to take it up to 22.50/SIZ with the potential to surge as high as 24.50 – 25.00/SI before the end of 2022. Platinum is showing similar signs of developing strength and should rally through November.
What Does (Potential) Shift of Gold/Silver Ratio Portend?
Will Platinum Surge with Silver?
How Does Current Action Corroborate 2023 Outlook??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.