Silver Reinforcing Dec. 9 – 13 Cycle Low; Projecting Multi-Week Rally. Gold & XAU Portend New Surges (XAU Targets New Multi-Year Highs)!

12/18/19 Weekly Re-Lay: “Gold & Silver are maintaining the potential for an additional surge… This comes after Silver spiked to a new low last week – 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) and a 7-week high-high-(low) Cycle Progression.

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…

1 – 4 week traders can be entering long positions in Feb. Comex Gold futures at 1478.2 down to 1468.5/GCG.  Place initial sell stops at 1462.4/GCG.  Exit 1/2 of these if/when 1522.0/GCG is hit.

The XAU pulled back to weekly support (97.61 – 98.23/XAU) and quickly turned back up, generating a daily 2 Close Reversal higher.

That reinforces the outlook for a rally into Dec. 20 – 24 and back to xxx.xx/XAU as its minimum upside objective.  This past two weeks’ price action shows that could include a spike above 104.00/XAU in the near term.”

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Silver is reinforcing bullish Gold & XAU wave structures & buy signals, fulfilling a 28-week low-low cycle with Dec. 9 low (that should hold for 1 – 2 months).  That reinforces the likelihood for an additional, accelerated surge in the coming week(s).  Watch early-Jan. ’20 – when multiple weekly cycles converge – for most revealing action and critical clues for 1Q 2020.

What are ramifications of Gold/XAU’s Wave Structure? 

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