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