Silver Setting Peak; Gold Pausing… XAU & HUI Attacking Targets.
01/11/23 Weekly Re-Lay Alert – “Gold & Silver have fulfilled the upside potential with Silver peaking in sync with its ~6-week high-high-high-high-low-low-low-low-(high) Cycle Progression – that projected a peak on Jan 3 – 6 – and Gold spiking higher this week, fulfilling a 14 – 15 trading day low-low-low-low (Dec 15) – (high; Jan 9, ’23) Cycle Progression.
That was reinforced by a 32 – 37-day low (Aug 22) – low (Sept 28) – low (Nov 3) – high (Dec 5) – (high; Jan 6 – 11) Cycle Progression and reinforces the potential for a future intermediate peak on [reserved for subscribers]… Gold reached weekly resistance and the convergence of 4 of the previous 4 weekly LHRs (1885.6 – 1895.7/GCG) after Silver perpetually attacked – and held – its primary ~4-month upside target around 24.50/SIH.
It is likely to wait until future cycle highs to reach more extreme upside targets. In the interim, a correction to ~21.50/SIH is possible… and would be reinforced by a daily close below 23.26/SIH (which would turn both the daily AND intra-month trends down).
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).
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.
A peak could take hold at any time and spur a retracement back to their mid-Dec lows near 115/XAU & 220/HUI. (If they fail to set new intra-month lows by/on Jan 31, the XAU & HUI would reinforce those downside targets with the Feb ’23 monthly HLS levels.)”
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 should extend its advance in 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.