Silver Confirming Peak as Gold Projects Future Surge… XAU & HUI Nearing Highs.

01/14/23 Weekly Re-Lay  “Silver initially peaked on Jan 3, fulfilling its ~6-week high-high-high-high-low-low-low-low-(high) Cycle Progression as Gold spiked higher into mid-month – fulfilling a 32 – 37-day low (Aug 22) – low (Sept 28) – low (Nov 3) – high (Dec 5) – (high; Jan 6 – 11Cycle Progression.

On a broader basis, that has allowed Gold to rebound 50% of the time it declined from early-Mar into late-Sept ’22 (~29 wks down/~14.5 wks up)…

This is occurring after Silver perpetually attacked – and held – its primary ~4-month upside target (and the precise target for its Inverted Head and Shoulders pattern) around 24.50/SIH.

If Silver remains at or below that resistance, it could see a correction to ~21.50/SIH.

Ultimately, Gold & Silver are still likely to work higher (on balance) into late-Feb/early-Mar ’23… the precise time that cycles converged in 2022 & timed a decisive peak.  If Gold sets a subsequent peak at that time (Feb 27 – Mar 10, ’23), it would perpetuate a 51- 52-week low-low-high-(high) Cycle Progression & complete a 50% rebound in time (34 wks down/17 wks up).

On a broader basis, Gold & Silver continue to build the case for a major low being set – in Sept ’22 for Silver and 4Q ’22 (Nov ’22) in Gold – the early stages of what could be a new 6 – 12 month (possibly 1 – 2 year) advance.

The Nov ’22 INSIIDE Track reiterated this potential and why the early-Sept ’22 low in Silver was likely a major ‘B’ wave low before a 1 – 2 year ‘C’ wave rally.  (Platinum has a similar wave structure and outlook.)…

The XAU & HUI have fulfilled ongoing analysis for overall advances to 135 – 137/XAU & 250 – 260/HUI with both indexes rallying right to their Dec ’22 Intra-month PLLRs (which became the Jan ’23 LLRs, so they are valid until Jan 31) at 133.98/XAU & 256.70/HUI.

Weekly LHRs (137.07/XAU & 261.98/HUI) as well as the XAU’s monthly 21 Low MARC & 21 High AMAC (136.22 – 138.99/XAU) combined with this past week’s resistance zones (137.29 – 139.84/XAU & 259.42 – 262.31/HUI) – to reinforce those upside targets and intermediate resistance zones.

Platinum & Palladium remain mixed with Palladium trading near multi-month lows as Platinum remains near multi-month highs.  Platinum remains on track for a future peak in late-Feb/early-Mar ’23.  It may have just corroborated that, AND set a multi-week high, while fulfilling an 18 – 19 week low-low-low-low-(high; Jan 3 – 13, ‘23Cycle Progression.

It spiked to new highs – perpetuating a related ~6-week cycle (that portends a future peak ~6 weeks later in late-Feb ’23, a potential high that would also fulfill Platinum’s 12 – 13 week low-low-low-high-high-low-high-(high) Cycle Sequence) – and then generated an outside-week/2 Close Reversal lower.

In doing so, Platinum could be giving clues as to when metals will set their next multi-week low… and it could be soon.  Platinum has adhered to a ~1-month/~30-degree cycle since Sept ’22 – setting a high on Sept 21 and then a series of subsequent (ascending) lows on Oct 20, Nov 21 & Dec 22.

Ideally, that cycle would produce one more ascending low on Jan 20/23 and then [reserved for subscribers]…

Copper fulfilled (and exceeded) ongoing analysis for a multi-month advance to ~4.100/HG and into Jan 9 – 13 ’23 – the latest phase of a ~10-month high-high-high-(high) Cycle Progression.  It could pull back at any time but is likely to ultimately extend this advance into early-March ’23.”


Silver fulfilled projections for a multi-month advance to 24.50 – 25.00/SI into early-Jan ’23 when a multi-week or multi-month peak was/is likely.  Gold is reinforcing its early-Nov ’22 buy signals and poised to rally into Feb/Mar ’23 and reinforce the overall outlook for 2023.

The XAU & HUI are corroborating this outlook and on track for surges above 135/XAU & 250/HUI.  Platinum has spiked above 1100/PL while fulfilling analysis for a rally into Jan ’23 (Jan 3 – 13 = multi-week peak?).

How High Could Gold Reach in 1Q ‘23?

How Could This Impact Future Cycle Highs (in 3Q ’23)?

How Long Should Silver its early-Jan ’23 Cycle High?

 

Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.