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