GOLD & Silver 30th July 2011 Weekly Report

Whilst Gold remains above the July highs, in theory, it should continue to push upwards and follow the weekly high cycles over the next 2-weeks and complete the move into 1677 by the first week of August...

Previous Weekly report

Gold Primary and Weekly cycles

Gold continues to move upwards with the expectation that it will move towards the August highs @ $1658...

and if they don't do anything over the weekend to rectify the debt ceiling issue, price of Gold could hit the 2011 target early next week $1679

Note:- if something happens and they raise the debt ceiling, along with the Friday high pattern, then next week will start with a 2-day reversal down towards the Weekly level $1594

and could reach the August 50% level by Friday...

If it does move down into the August 50% level @ $1574 by next Friday, then that level will be used as a trend guide of another attack towards the 2011 target (following Week)

Silver trading above the July 50% level, and in theory it should continue to follow next week's cycle highs...

 and then another 5-days upwards at the start of August... (Previous Weekly report)

Silver Primary and Weekly cycles

Silver not as robust as gold, as the 2011 highs @ 40.81 continues to resist the trend from rising..

The short-term support level on Silver is next week's 50% level $ 38.96, and whilst it's above that level, the trend bias remains up.

However, if below, then the trend will revisit the 3rd quarterly 50% level @ $36.80 

GOLD & Silver Report 23rd July 2011

Gold Primary and Weekly cycles

GOLD continues to trade above the July highs @ 1576,

with an overall target of $1677 for 2011

Whilst Gold remains above the July highs in theory it should continue to push upwards and follow the weekly high cycles over the next 2-weeks and complete the move into 1677 by the first week of August.

The only concern is if the next 5-days continues to consolidate in a sideways pattern..

if that happens then the first week of August could move back down towards the August 50%

Silver Primary and Weekly cycles.

Silver trading above the July 50% level, and in theory it should continue to follow next week's cycle highs...

and then another 5-days upwards at the start of August, with an overall target of $49.43 during this Quarter

Weekly level @ $39.00 (short term support)

Quarterly 50% level @ $36.79 (SUPPORT)

GOLD & SILVER Report 16th July 2011

GOLD Primary and Weekly cycles

Gold has reached its 3rd Quarterly highs @ $1594, with an overall target in 2011 @ $1677+
There is a breakout of the Weekly highs @ $1568, that should push up towards next week's highs...

If that happens I would look for the Price to slip back towards $ 1568 to $1552

Silver Primary and Weekly cycles

Silver should continue up towards next week's highs :- 40.35 to 40.81.

And Even though Silver could follow the same pattern as Gold and continue towards the 3rd Quarterly highs @ $48+

there is also the possibility that price revisits the Weekly level  @ $37.34 next week

The Quarterly 50% level @ $36.75 is your trailing support price for the rest of this Quarter.

GOLD & SILVER Report 9th July 2011

Friday's price action has the hallmarks of getting buyers excited on the metal once again if it begins trading above the July 50% level & $1502.90... that could see the trend make its way back towards the recent highs once again.

Previous Weekly report

Gold Primary and Weekly cycles

As noted in last week's report, the price action around the BUY set-up had to validated by price trading above the July 50% level and Weekly level $1502.

once that happened, the trend bias was to move back towards the highs.

Next Week:-

Short-term trend guide is based on the Weekly level @ $1540, which could see the trend follow the weekly highs towards next week's highs.

otherwise the Weekly 50% level is the trailing support level @ $1516

Silver Primary and Weekly cycles

Keep an eye for a possible up move, if Silver tests next week's lows @ $32.96 and buyers appear...if it breaks the 5-day highs/ Weekly 50% level, the price of silver could quickly move back towards $37-$39.....

Previous Weekly report

Silver didn't move down into the BUY set-up, but it did break out of the 5-day highs and Weekly 50% level.

The trend has continued back towards the Quarterly 50% level @ $36.80.

The Quarterly 50% level level along with the Weekly level $36.24 will determine whether Silver continues to move up towards $39+

If not Silver, can move back down towards $33.00 later in month.

GOLD & SILVER Report 2nd July 2011

GOLD Primary and Weekly cycles

GOLD has continued with its downward reversal pattern at the start of the 3rd quarter, and looks to be moving down into the 3-Quarter support levels.

Those support levels are an ideal level to get back into the trend for all those that are still bullish on the metal.

Don't hold longs below $1446

However, what happens if those support levels aren't reached...

Friday's price action has the hallmarks of getting buyers excited on the metal once again if it begins trading above the July 50% level & $1502.90... that could see the trend make its way back towards the recent highs once again.

Silver Primary and Weekly cycles

 Silver has started the 3rd Quarter below the 50% level, which can often lead to more downward pressure, and see price move down into the July lows @ $30.17

Over the past 3-weeks the price of silver has followed the Weekly range, making lower lows, and that may continue into next week's lows

Note:- keep an eye for a possible up move, if Silver tests next week's lows @ $32.96 and buyers appear.


if it breaks the 5-day highs/ Weekly 50% level, the price of silver could quickly move back towards $37-$39.....

And if it begins to trade and consolidate above the Quarterly 50% level once again, the upward trend will likely resume.