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.