Platinum Projects November ’22 Surge; 1130/PLF Target in Focus
10/31/22 INSIIDE Track – “Since early-2022, Silver has been forecast to become more of a leader in/after Sept ’22 and overtake Gold with respect to its advances.
Gold’s monthly trend pattern argued for a 1 – 2 month low to take hold in late-Sept. So far, that is what has transpired, reinforcing what Silver’s price action has already been showing – as it steadily traces out a bottom…
Gold & Silver are adhering to this intermediate outlook and are expected to rally during the first ~half of Nov…
If Silver continues to hold its early-Sept low through year-end (even if Gold drops to a new low and creates a divergent bottom), it would increase the chances for a larger-magnitude advance in 2023…
Platinum has rallied after fulfilling a 12 – 13 week low-low-low-high-high-(low) Cycle Sequence at its early-Sept lows. The next phase of this cycle comes into play in late-Nov ’22 and is debatable whether it will time a high or low.
Before addressing that, the subsequent phase of this cycle is in late-Feb ’23 – the same time when other 90/180/360-degree cycles come into play – and is much more likely to be a high. A rally into late-Nov ’22 would powerfully corroborate that.
A rally into late-Nov ’22 would complete successive rallies of equal duration (12 weeks). A rally into late-Nov ’22 would also fulfill a 50% rebound in time (25 wks down/12.5 wks up).
Platinum turned its weekly trend up after closing above its weekly 21 High MAC – confirming recent strength. Over the next 5 weeks, the inversely-correlated weekly 21 MARC will plunge – likely resulting in the weekly 21 MAC turning up.
This action should spur a quick rally above 1040/PLF and potentially as high as ~1130/PLF – its range-trading target. Similarly, the way in which Platinum is bumping up against a 3 – 4 month ceiling near 975/PLF could also be setting the stage for a breakout above that level and an accelerated surge. The timing of this rally should clarify late-Nov ‘22 cycles.”
Platinum is showing similar signs of developing strength as Silver and should rally through November, based on a powerful combination of bullish indicators projecting an accelerated rally from Nov 3/4 into mid-Nov and potentially into late-Nov ‘22.
What Does (Potential) Shift of Gold/Silver Ratio Portend?
Could 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.