Silver Surge to ~24.50/SI (into early-Jan ’23) Projected; Gold, XAU & HUI Concur.
12/14/22 Weekly Re-Lay Alert – “Gold & Silver fulfilled the outlook for another rally into mid-Dec ‘22 and up to their primary upside targets… That could spur a brief pullback before a subsequent (expected) 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/is likely this week – the midpoint of that cycle. If/when set, it would reinforce that ~6-week cycle by creating a reinforcing peak during the latest phase of a corresponding ~3-week/17 – 21-day low-low-low-low-(high) Cycle Progression. That would project 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 projects an initial high on Dec 14 – 16. They would not show any signs of a 1 – 2 week top, however, until daily closes below 1788/GCG & 23.30/SIH…
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.
The XAU & HUI remain on track for overall advances up to (or above) 130 – 137/XAU & 245 – 251/HUI. The XAU has its latest two weekly LHRs at 135.28 – 138.81, overlapping its Jan ’22 high (intra-year trend resistance at 137.43) and its early-June peak at 137.40/XAU.”
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) could impact action in 1Q ’23.
The XAU & HUI are corroborating this outlook and on track for surges above 130/XAU & 250/HUI. Platinum is showing similar signs of ongoing strength and should rally above 1100/PL.
What Does Gold’s 4Q ’22 (Lagging) Cycle Low Portend for 1Q ‘23?
How Could This Impact Future Cycle Highs?
What Should Follow Projected Silver Surge to ~24.50/SI?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.