ΣL Gold Composite - 22nd February 2024 | @ 316 Days
'C' class signal detected in Sigma-L Gold composite (XAU vs USD/EUR/CAD/GBP/CHF/AUD/NZD/SGD/JPY). Avg. wavelength of 316 days - 9 iterations since May 2016. Currently peaking
ΣL Cycle Summary
In this new addition to Sigma-L we look at one of the more prominent, longer term, periodic features of gold across multiple currencies via our composite. That feature is a fairly stationary wave with a duration of 316 days at the current phasing and sampled below since May 2016, 9 iterations. Since the trough in early 2021 it has been a clear influence on price action, making undulating impacts within the gentle uptrend that underlies gold. Peaks are slightly more accurately timed in correlation to price but in general it is well behaved and presently peaking, the next trough due around July this year.