Silver Poised for Early-Jan ’23 Peak (Near 24.50/SI); Gold Projects Longer Advance.
12/17/22 Weekly Re-Lay – “Gold & Silver fulfilled the outlook for another rally into mid-Dec ‘22 and up to their primary upside targets… That was projected to spur a brief pullback – which took hold – before a subsequent (likely) rally into late-Dec/early-Jan.
If it rallies into late-Dec, Gold would fulfill a 41 – 42-week high-high-high-(high) Cycle Progression. Silver is similar, expected to stretch its advance into Dec 30 – Jan 6, ’23 – the latest phase of a ~6-week high-high-high-high-low-low-low-low-(high) Cycle Progression that timed the early-Sept ’22 major low and subsequent Oct 14 and Nov 21 lows.
That ~6-week cycle should now invert and time a ~6-week (most current phases have ranged from 39 – 42 days) rally into Dec 30 – Jan 6, ’23.
In the interim, an intervening high was anticipated this past week – the midpoint of that cycle. That was set and reinforced that ~6-week cycle by creating a peak during the latest phase of a corroborating ~3-week/17 – 21-day low-low-low-low-(high) Cycle Progression. That projects a subsequent high ~3 weeks later – on Dec. 30 – Jan 6, ’23.
A ~30-degree/~1-month cycle and a web of related cycles in Gold (28, 14 & 7-trading day cycles) also projected an initial high around Dec 14. The corresponding 20-day low (Nov 3) – low (Nov 23) – high (Dec 13) – (high; Jan 3, ’23) Cycle Progression reinforces the potential for the next peak to occur within days of year-end ’22.
They 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.
On a 3 – 6 month basis, Gold has been building an intriguing synergy of cycles – most projecting a high – in late-Feb/early-Mar ’23… the precise time 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).
If it fulfills near-term cycles and sets a multi-week high in late-Dec ’22, that would be the midpoint of a (potential) ~17-week rally and create a corroborating ~2-month low-high-(high) Cycle Progression targeting late-Feb/early-Mar ’23.
A peak at that time would also reinforce multi-year cycles that come into play later in 2023 – when a more significant peak is most likely. To reiterate, both Gold & Silver could ultimately surge much higher as confirmation to the outlook for a new 6 – 12 month advance from late-’22 into late-’23.
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…
Copper remains capable of seeing an overall advance to ~4.100/HG and is likely to stretch this multi-month advance into early-Jan ’23 – the next phase of a ~10-month high-high-high-(high) Cycle Progression… and the time when Gold & Silver could set corresponding highs.”
Silver remains on track for a multi-month advance to 24.50 – 25.00/SI into early-Jan ’23 when a multi-week or multi-month peak is likely. Gold is fulfilling its early-Nov ’22 buy signals and poised to rally above 1900/GC. It’s ~2-month lag (compared to Silver) should extend its advance in Jan/Feb ’23 and impact the overall outlook for 1Q ’23.
The XAU & HUI are corroborating this outlook and on track for surges above 135/XAU & 250/HUI. Platinum is showing similar signs of ongoing strength and should rally above 1100/PL stretching into Jan ’23.
Why Should Gold’s Current Rally Outlast Silver’s in 1Q ‘23?
How Could This Impact Future Cycle Highs (in 3Q ’23)?
What Should Follow Projected Silver Surge to ~24.50/SI & early-Jan ’23 Cycle High?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.