GOLD & SILVER 26th MAY 2012 Weekly Reports

the fundamentals don't match the technicals, and just by looking at the technicals...

I still feel that GOLD will hit resistance levels around the MAY breakout and move lower...

 into the 2nd Quarterly Support levels, as shown in the Primary chart.

GOLD Primary and Weekly cycles

GOLD hit the MAY breakout levels and continued with its overall trend bias :- DOWN.

Target is the Quarterly Support levels, as shown in the Primary chart.

Trend bias is down, as part of the break and extend pattern from the MAY lows into the June lows.

However, there is 1 week to go in MAY, and often price can rotate upwards into the following monthly 50% level...

and then once again rejected down into the June lows, completing the break and extend pattern :- SUPPORT

Next week's level @ 1568 will determine the direction for the next 5-days.

SILVER Primary and Weekly cycles

Same applies in Silver...

Trend bias is down into Pimary cycles Support levels..

Whilst the Weekly 50% level will determine whether there is a last week rise in MAY...

and then another rejection down in June

GOLD & Silver 19th MAY 2012 Weekly reports

GOLD Primary and Weekly cycles

With all the crap occurring in the Euro zone with Greece, there is enough reason to park some money in Gold...

and see it continue to rise.

However, the fundamentals don't match the technicals, and just by looking at the technicals I still feel that GOLD will hit resistance levels around the MAY breakout and move lower...

 into the 2nd Quarterly Support levels, as shown in the Primary chart.

Silver Primary and Weekly cycles

Silver showing some buying, but the technicals don't match for continued strength.

long term support resides around the Primary cycle lows (support)

GOLD & SILVER 12th MAY 2012 Weekly Reports

GOLD Primary & Weekly cycles

Breakout of the Weekly lows should extend down into Next week lows, which is likely to provide a swing zone for a rise upwards.

However, the rise upwards will be short-lived, as the trend bias is to follow the MAY low breakout and extend down into new lows in June...

to coincide the Quarterly Support levels, as shown in the Primary cycles @ 1464/95

SILVER Primary and Weekly cycles

Trend is liklely to continue down into the Primary Support zones...

Whilst having short-term counter-trend moves upwards until then (Weekly cycles)

GOLD & SILVER Weekly Report 5th MAY 2012

GOLD Monthly and Weekly cycles

As mentioned in last week's report.... I though GOLD would struggle to Rise upwards, and it now appear price will continue to consolidate during the Current Quarter.

Weekly 50% level is the trend guide :- potential resistance.

for a move down into Random Support zones (Weekly lows)

SILVER Primary and Weekly cycles

Even though Silver continues to consolidate within the Primary cycle ( higher low), the overall trend remains bearish.

Next Week's lows are random Support zones, that may result in more consolidation within the Weekly cycles...

however, the MAY lows @ 28.99 is the attraction zone.