GOLD & SILVER 29th October 2011 Weekly report

if it's going to continue higher it will need to rise up from next week's 50% level and breakout of the Weekly highs

Previous Weekly report

GOLD Primary and Weekly cycles

Gold has risen from the Weekly 50% level and has broken out of the this week's highs, and likely to continue up into next week's highs.

Next week's highs are seen as resistance for a retest of 1704.46 and 1694.

Once that occurs then November comes into play and the new monthly 50% levels.

If the Trend is going to continue higher, as part of price rising up from the Primary cycle Support zones, then it needs to remain above the November 50% levels

 

Silver Primary & Weekly cycles

Larger cycles in Silver has only seen price rise up and retest the 4th Quarterly 50% level.

I have the same view as Gold, and that Silver will rise up into next  Week's highs, but then reverse and retest this week's breakout @ 33.83....

Which will align with the November 50% level.

Note:- A higher step formation in the forward month (higher 50% level) can often lead to weakness in the following month

GOLD & SILVER Weekly Report 22 October 2011

if GOLD decides it wants to continue to consolidate over the next 4-weeks, it will struggle and remain in a tight trading range.

The longer GOLD consolidates around Primary support, the more reason there is for Support to fail in the last month of the current quarter and move towards the Quarterly lows


Previous Weekly Report

GOLD Primary and Weekly cycles

GOLD continues to consolidate during October, and if it's going to continue higher it will need to rise up from next week's 50% level and breakout of the Weekly highs.

Otherwise a close below Support and the Weekly lows will put pressure to follow the trend towards the 3-month lows (first target $1480)

Silver Primary and Weekly cycles

The same applies on Silver....

it will need to breakout of the Weekly highs, as those highs and the October 50% level can form resistance zones

And by looking at the price action in the Primary cycles, any further weakness will push Silver down towards $23.50 to $25.00  (NEXT BUY ZONES)

GOLD & SILVER Report 15th October 2011 Daily

Gold could climb upwards if it remains within the Weekly levels (white)...


However, my view is that the next 4 weeks will continue to flip-flop around Primary support until November...


Previous Weekly Report

GOLD Primary and Weekly cycles

Gold has continued to consolidate around the Primary support levels.

As we can see in the above chart, the Weekly highs have now caught up with the current price action in the Quarter

For Gold to continue higher, it will need to breakout of those highs and follow a double Weekly cycle pattern, which is a 2 week upward trend.

However, if GOLD decides it wants to continue to consolidate over the next 4-weeks, it will struggle and remain in a tight trading range.

The longer GOLD consolidates around Primary support, the more reason there is for Support to fail in the last month of the current quarter and move towards the Quarterly lows

SILVER Primary and Weekly cycles

Silver continues to consolidate, and I'm having a hard time seeing more gains during the current Primary cycle in 2011.

For that to happen it will need to break out of the weekly highs.

 GOLD traders, have a look at the price action in Silver, and see if you can see a similar pattern that's currently unfolding in GOLD.

if Gold follows the same 'bubble pattern' as Silver, then the last month of the current quarter is what you need to keep your eye on.

GOLD & SILVER 8th October 2011 Weekly Report

"this is the first month of the quarter, and it's already trading around support, so it wouldn't surprise me to see the next 4 weeks consolidate around support.

When we look at the Weekly cycles (right chart).... there is a potential rejection pattern around the Weekly 50% level"

Previous Weekly report

GOLD Primary & Weekly cycles

GOLD is currently trading around Primary support levels, but it's being kept in check around the Weekly 50% level.

Next Week:- Gold could climb upwards if it remains within the Weekly levels (white)...

However, my view is that the next 4 weeks will continue to flip-flop around Primary support until November...

short-term weakness is based on price trading below 1637.

Silver Primary and Weekly cycles

Silver could climb upwards if it's trading above the weekly 50% level...

but hit resistance around $35.97

However, my view is that the best price to BUY silver remains around lower support levels @ $24-$25 in the Primary cycles (October lows)