Silver Reinforces (Future) Mid-Oct ’23 & Jan ’24 Cycle Highs; Congestion Continues.
09-06-23 – “Gold & Silver remain in multi-month corrective phases from their cycle highs on May 3 – 5. Those highs fulfilled ~3-month low-high-(high) & ~4-month low-low-high-(high) Cycle Progressions and were projected to usher in a corrective phase… A secondary peak arrived in mid-July, fulfilling a ~3-month/~90-degree Silver cycle from its mid-April & mid-Jan ’23 highs.
Those highs were preceded by lows in mid-Oct & mid-July ’22… and a high in mid-April ’22… a consistent string of ~3-month turning points that preceded multi-week declines. The mid-July ’23 high fulfilled a ~3-month/~90-degree low-low-high-high-(high) Cycle Progression and projects another high in mid-Oct ’23…
Silver rallied to new intra-month highs in late-Aug ‘23 – producing an initial surge and completing an Intra-Month V Reversal higher. It peaked during the week of Aug 28 – Sept 1, perpetuating a ~17 (16 – 18)-week low-low-high-high-(high) Cycle Progression that reinforces the future cycle peak in Jan ’24 (next phase of that ~17-week cycle is Dec 26 – Jan 5, ’24)…
Looking ahead, the focus remains on the potential for a future, more significant (1 – 2 month?) peak in late-Oct/early-Nov ‘23 – the next phase of a consistent ~9.5-month cycle that timed the March ‘22 peak and then the early-Jan ‘23 peak. It would also fulfill an over-arching ~19-month high-high-high-(high) Cycle Progression in Silver & complete a ~1-year/~360-degree advance in Gold.
The early-May ‘23 peak created a corroborating ~6-month/~180-degree low (early-Nov ‘22) – high (early-May ‘23) – high (early-Nov ‘23) Cycle Progression. As discussed the past couple months, the ideal time for an accelerated rally is [reserved for subscribers], due to key cycles and the weekly 21 MARC.”
Gold & Silver fulfilled projections for a quick surge into early-Sept ’23 when a multi-week high had been projected. That corroborates future cycle highs projected for mid-Oct in Silver & late-Oct/early-Nov ’23 in Gold… and more significantly (for Silver) in Jan ‘24. They were not able to turn intermediate indicators positive and are seeing more weakness. That does not, however, alter expectations for Oct ’23 and the weeks leading into early-Nov ’23.
The action since late-2022 is powerfully validating the onset of a new 40-Year Cycle of Currency War in which Gold & Silver possess unique potential for late-2023 – late-2024! The 90/10 Rule of Cycles in Gold continues to project a sharp advance in Oct ’23 – in the final weeks leading into a (potential) early-Nov ’23 peak.
Where are Metals Likely to Rally in 4Q ’23? Will Middle East War Cycles Have an Impact??
How Does 90/10 Rule of Cycles Project Sharp Rally in October ’23?
Why are mid-Oct – early-Nov ’23 Cycle Highs the Key to 2024 Outlook?
Refer to the April 11, 2023 special issue of The Bridge – Gold, Silver and Elliott Wave Structure – and subsequent reports – for expanded analysis and charts.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.