Gold - Market Cycles - 27th March 2023
Gold moves strongly up via the beacon at ~55 days, reaching and exceeding all our upside targets. A peak in this wave is due, we look at the latest in this report, alongside longer term analysis
Essentials: Nominal Model | FLD | FLD Trading Strategy | FLD Trading Strategy (Advanced) | Underlying Trend | Time Frequency Analysis
Analysis Summary
The latest move up in Gold exceeded our targets from the last report at 1900, 1950 and also exceeded 1960. The medium term phasing comes into focus here as the 40 week component is due to peak in this timezone with a subsequent trough due in July. The ‘beacon’ component at 55 day continues to be an excellent trading signal with high amplitude, as shown below in the time frequency analysis on both Gold and a Gold/Silver composite.
The 40 week component has been fairly coherent in Gold for a prolonged period, running at an average wavelength of around 315 days. Current phase is indicating a peak, this is set against the still bullish power of the longer component (notionally 18 month, ~516 days) and the bullish 20 week component (~140 days).