GOLD & SILVER 23 June 2012 Weekly reports

GOLD Primary and Weekly cycles

As per previous Weekly report, my view is that GOLd and Silver will continue down towards long term support zones.

Long term buyers should once again look to be accumulating gold around the $1495 mark, but don't throw all your eggs into one basket...

Simply because long term cycles could see the price of Gold dip further during the 3rd Quarterly cycle, and that's when buyers look to BUY into GOLD around those future dynamic lows.

If you have read my book and have a firm understanding how Quarterly cycles work, then you know that I'm  a firm believer of double dipping on falling prices.

Silver Primary and Weekly cycles.

I haven't waviered on my view that Silver will continue down after last years Bubble pattern.

June lows @ 25. 56 has random support during the 2nd Quarter, as it comes to an end

with long term BUY zones around the Primary cycle lows ($22.50/23.50)

GOLD Silver 16th June 2012 Weekly Reports

Gold Primary and Weekly cycles

GOLD didn't remain below the June 50% level (& Weekly level)

short-term it looks to be moving up into the Weekly highs next week. (Resistance)

I still have the view that the APRIL (2nd Quarterly 50% level) will act as resistance until July

Silver Primary and Weekly cycles

Continues to remain within a sideways pattern above the Weekly 50% levels

I still have the view that it's moving down into Primary support...

but whilst above the Weekly 50% level, it remains stable within a BEAR TREND

GOLD & Silver 9th June 2012 Weekly Reports

often it  be interpreted as Bullish, but the cycles in the Quarterly timeframe aren't helping with the position of the 2nd Quartertly 50% level.

 Too early to tell whether GOLD continues to rise, just be aware if price is back below the June 50% level the trend bias is likely to continue lower once again.

GOLD Primary and Weekly cycles

I still have the view that GOLD is moving down into the June lows.

June 50% level is the trend guide.

SILVER Primary and Weekly cycles

Weekly 50% level is the trend guide...

and whether price continues down into June lows, as part of the Primary cycle

or there's a short-term rise towards the June 50% level:- resistance 

GOLD & SILVER Weekly Reports 2nd June 2012

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

GOLD Monthly and Weekly cycles

Unlike Index Markets this week, GOLD hasn't continued down into the June lows but has moved up towards the June 50% level and closed above.

That can often be interpreted as Bullish, but the cycles in the Quarterly timeframe aren't helping with the position of the 2nd Quartertly 50% level.

Too early to tell whether GOLD continues to rise while markets crap their pants...

Just be aware if price is back below the June 50% level the trend bias is likely to continue lower once again.

SILVER Primary and Weekly cycles

Same applies on Silver:- Resistance Weekly highs...

and still below the June 50% level, with the expectation that it's moving lower