GOLD & SILVER Report 30th April 2011

GOLD Primary and Secondary cycles

As noted last week, whilst Gold is above 1492.00  the trend bias is to continue upwards, with the possibility that the trend continues towards $1679 in 2011.

In the short-term the trend is likely to see a push up towards next week's highs.

The ideal pattern to get back into trend (if your not on it)...

is to see a 1 week reversal pattern that closes on it's lows, but it aligns with the MAY 50% level....@ $1486

if the trend is going to continue upwards, it then should remain above 1492 and continue towards new highs in July, as it trends towards $1679

Silver Primary and Secondary cycles

Where silver is right now ($47.95), I deem it as 'bubble territory'...

 however it doesn't mean that the trend can't continue to trend upwards during 2011.

There is a breakout of the April highs, which often will continue to trend up towards the highs in July  (3rd Quarter, & target unknown as yet)

But if it's in bubble territory, then I would like to see the early price action in MAY come back and revisit support levels, before the trend has the potential to continue higher in the current year.

Basically, I would like to see a weekly 'bar' (5-days) come down into support levels

Support levels vary:- as it can remain above $41.52

or dip down into $38-39.22 (1-3 days)

And then move back above $41.52 and continue upwards into higher highs by July (3rd Quarter highs)

GOLD & SILVER Report 23rd April 2011

Gold Primary cycle and Weekly timeframe

Gold continues to trade around the Primary and Secondary cycle highs...

Once again, I would like to see GOLD move back down down into trailing support levels (Weekly lows)

However, whilst it's above $1492.00 the trend bias is to follow the weekly timeframe and make new highs next week.

And if the USD dollar continues to collapse,  traders will continue to flock towards the 'safe haven' and drive the price up towards the 100% of the yearly timeframe :- $1679.00

Silver Primary and Secondary cycles

Silver continues to rise higher than expected, but whilst it's above the April highs the trend bias is to follow the break and extend pattern towards the new highs in MAY.

Personally I wouldn't case the trend, but I did say that when it was trading around the highs in April @ $40.065.

I mentioned a couple of weeks ago that my view is that the trend will continue towards new highs in 2012,  but to capture that trend it will need to reverse down some time in 2011 back towards trailing support levels in the current Quarter or the next.

GOLD, & Silver Reports 16th April 2011

GOLD Primary cycles and Weekly

As noted in the previous report, my view is that both GOLD and Silver are trading around resistance levels, and I'm looking for a reversal pattern into trailing support levels.

However, resistance only lasted a couple of days until the weekly level @ 1445, and it then continued upwards following the Weekly highs, and may continue up towards next week's highs

first sign of weakness will be price trading inside the weekly channels (white)

2nd  sign of further weakness will be a daily close below the weekly lows. @ 1424.75

What happens if there's no weakness?

If the month of April closes above 1492, there is the possibility that the trend makes a bee line towards $1679 in 2011

Silver Primary cycles and Weekly

My view was that Silver had reached a top last week @ 41.52 and would be in the process of reversing down.

However, it's now trading above that level and is following the Weekly pattern.

I believe Silver will continue to rise up into higher highs in 2012 (Target unknown yet, as it won't be known until the last day of 2011)...

but I can't be chasing silver at these levels, until it reverses down into trailing support levels.

first sign of weakness will be price trading inside the weekly channels (white)

2nd  sign of further weakness will be a daily close below the weekly lows. @ 37.55

Silver 12th April 2011 Daily

Silver Monthly and Weekly

As noted in the weekly report (9th April)...

My view is that Silver has reached a top in the secondary cycle, and I'm looking for the trend to rotate back down...

There are two possible patterns....

Remain within the Weekly levels over the next 3-weeks, and then push upwards from MAY, and make higher highs

or

Continue with a larger trend reversal, back down 31.06 to 32.41

For the latter to occur, it will need to break out of the Weekly lows @ $36.00

GOLD & SILVER Report 9th April 2011

GOLD Primary and Secondary Cycles

If you are a GOLD bull and think Price is going to go higher, then you''ll want to BUY the dips.

As we can see in 2011, gold is moving into resistance levels around the 2nd Quarter highs, which is a similar pattern as in 2010.

The potential move in gold during 2011 is towards $1679

.... However, buying GOLD at these levels is open to Risk.

the next BUY would have to align with trailing support levels, as shown above, which might take until the 3rd quarter for price to reverse back down.

SILVER Primary and Secondary cycles

Silver is far more bullish on a technical sense, as it's trading above the 2011 highs, and most likely continue to trend upwards into 2012.

However, once again it's moving towards the highs in the secondary cycles, therefore buying Silver at these levels is open to risk....

The break and extend pattern has completed around this week's highs, and will often reverse back down into trailing support levels over the coming weeks.

Silver is a long term BUY, as in BUY the dips, but it's too high at the moment, and the next long term BUY would be around the 3-month lows, or in the 3rd Quarter...setting up further gains into 2012