GOLD Daily report 22nd November 2011

As mentioned a number of weeks ago, Gold is showing the same Bubble pattern as Silver.

The short-term trend is determined by the November 50% level and next week's 50% level, and weakness will be confirmed if price is trading below the dynamic Weekly lows.


GOLD Primary and Weekly cycles

Change in Weekly dynamics (Weekly 50% level) has seen the price of Gold come down into the Weekly lows @ 1676.

If Gold can't rise up on Tuesday and remain within the Weekly levels....

then it's going to end up back down into the November lows @ $1546, and dip lower in December towards $1480

Simply refer to the previous reports and the price action in Silver, as this can easily occur in the price of Gold over the coming weeks.