Home 2020 Gold & Silver: Not a Top, but a Mid-Cycle Correction

Gold & Silver: Not a Top, but a Mid-Cycle Correction



Gold’s entered a gentle climb North after marking the 12 November lows. It was not until the Thursday before Christmas when prices verified a cyclical breakout.

The initial breakout surge is slowing as the precious Yellow metal enters a mid-cycle correction. Key support is between 1520 – 1540. Once completed, gold should continue to fresh highs.

Silver often lags gold at the beginning of a trend, but takes the lead near the end. So, silver prices should soar throughout the next advance.

Note: Silver diverged from gold and touched fresh lows in December. The recent breakout is very fresh, and a pullback here would offer an excellent, medium-term entry.

Silver spiked to 18.90, and it tappears to be entering a mid-cycle correction. Ideal support appears between 17.30 – 17.80 with the potential for a backtest of the cycle break line. Once complete, silver should resume the uptrend and exceed 20.00 in March.

Precious metals and miners are heading into their mid-cycle corrections. After a brief pause, prices should resume their uptrends. My work shows considerable potential in silver and plan to add leverage as prices correct.

Have a terrific weekend

Previous article2020: TSA Rules All Air Travelers Should Know
Next articleBitcoin: USD/BTC (BTC=X) Big Market Shift Dead Ahead
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.