Silver Perpetuates 7- & 28-Week Cycles; Sets Dec. 9 Low… Should Hold for 1 – 2 Months. Gold & XAU Validate Likely ‘5th’ Wave Advances; Early-Jan. = Key!
12/14/19 Weekly Re-Lay: “Gold & Silver are whipsawing with recent daily signals projecting a quick surge… The next cycle high of similar magnitude comes into play in ~March 2020, when the next multi-month peak is anticipated.
In between, metals were projected to bounce into Dec. 2 – 13 – the latest phase of related ~7-week, ~13 – 14-week & ~27 – 29-week cycles. They rallied into Dec. 4 (30, 60 & 90 days/degrees from their Nov. 1/4, Oct. 3 & Sept. 4 highs), dropped into Dec. 10 and then surged again into Dec. 13.
In the process, Silver spiked to a new low fulfilling its weekly trend pattern and the potential for a contrasting intermediate bottom on Dec. 9 – 13 – perpetuating a 28-week low-low-low-(low) Cycle Progression and a 7-week high-high-(low) Cycle Progression.
These competing cycles reinforce that metals are in congestion – whipping back and forth between highs and lows…
Several factors, including the daily trend pattern, show that Gold should see another rally – capable of surging back to/above 1520.0/GCG in the near term. That is near the weekly trend neutral point, weekly LHR (2), and the flattening weekly 21 High MAC.
That 21 MAC indicator could play a dual role in the coming weeks…
Beginning on Dec. 23 – 27, the inversely-correlated weekly 21 MARC will surge in Gold (for 5 – 6 weeks). On Dec. 30, the weekly 21 High MARC will jump to 1528.1/GCG…
Gold & Silver reversed higher on Dec. 10, as Gold fulfilled its daily trend pattern and daily cycles – including a 30-day/30-degree low-low cycle that produced lows on Sept. 10, Oct. 11 & Nov. 12.
It was also in sync with the daily 21 MARC discussed last week – which had the potential to turn bullish on Dec. 10. Combined with the action of the daily 21 MAC, Gold could see follow-through to the upside in the coming week – potentially spiking above 1520.0/GCG…
1 – 4 week traders can enter long positions in Feb. Comex Gold futures at 1478.2 and average into these down to 1468.5/GCG… Exit 1/2 of these if/when 1522.0/GCG is hit.
The XAU pulled back and twice neutralized its daily uptrend while correcting into daily cycles on Dec. 10 and right down to multiple levels of ‘resistance turned into support’ as well as its ascending daily 21 High MAC. That perpetuated a recurring 14-day and an overlapping ~28-day low (Aug. 19) – low (Sept. 16) – low (Oct. 15) – low (Nov. 12) Cycle Sequence (Dec. 10).
Based on its weekly trend pattern, the XAU remains on track for a rally back to xxx.xx/XAU as its primary (minimum) upside objective. This past week’s price action showed that could include a spike above 104.00/XAUin the near term.
Based on fulfilling its Dec. 10 cycle lows, the XAU increased the potential for a rally into Dec. 20 – 24. That is reinforced by its weekly LHR pattern.”
Silver adds to bullish Gold & XAU wave structures, fulfilling 28-week low-low cycle with Dec. 9 low. That reinforces the likelihood for an accelerated surge in metals in the coming weeks. Watch early-Jan. ’20 – when multiple weekly cycles converge – for most revealing action. Intermediate cycles provide intriguing potential for 1Q 2020.
What is in Store for Gold after early-Jan. 2020?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.