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)