GOLD & SILVER Weekly Report 22 October 2011

if GOLD decides it wants to continue to consolidate over the next 4-weeks, it will struggle and remain in a tight trading range.

The longer GOLD consolidates around Primary support, the more reason there is for Support to fail in the last month of the current quarter and move towards the Quarterly lows


Previous Weekly Report

GOLD Primary and Weekly cycles

GOLD continues to consolidate during October, and if it's going to continue higher it will need to rise up from next week's 50% level and breakout of the Weekly highs.

Otherwise a close below Support and the Weekly lows will put pressure to follow the trend towards the 3-month lows (first target $1480)

Silver Primary and Weekly cycles

The same applies on Silver....

it will need to breakout of the Weekly highs, as those highs and the October 50% level can form resistance zones

And by looking at the price action in the Primary cycles, any further weakness will push Silver down towards $23.50 to $25.00  (NEXT BUY ZONES)

GOLD & SILVER Report 15th October 2011 Daily

Gold could climb upwards if it remains within the Weekly levels (white)...


However, my view is that the next 4 weeks will continue to flip-flop around Primary support until November...


Previous Weekly Report

GOLD Primary and Weekly cycles

Gold has continued to consolidate around the Primary support levels.

As we can see in the above chart, the Weekly highs have now caught up with the current price action in the Quarter

For Gold to continue higher, it will need to breakout of those highs and follow a double Weekly cycle pattern, which is a 2 week upward trend.

However, if GOLD decides it wants to continue to consolidate over the next 4-weeks, it will struggle and remain in a tight trading range.

The longer GOLD consolidates around Primary support, the more reason there is for Support to fail in the last month of the current quarter and move towards the Quarterly lows

SILVER Primary and Weekly cycles

Silver continues to consolidate, and I'm having a hard time seeing more gains during the current Primary cycle in 2011.

For that to happen it will need to break out of the weekly highs.

 GOLD traders, have a look at the price action in Silver, and see if you can see a similar pattern that's currently unfolding in GOLD.

if Gold follows the same 'bubble pattern' as Silver, then the last month of the current quarter is what you need to keep your eye on.

GOLD & SILVER 8th October 2011 Weekly Report

"this is the first month of the quarter, and it's already trading around support, so it wouldn't surprise me to see the next 4 weeks consolidate around support.

When we look at the Weekly cycles (right chart).... there is a potential rejection pattern around the Weekly 50% level"

Previous Weekly report

GOLD Primary & Weekly cycles

GOLD is currently trading around Primary support levels, but it's being kept in check around the Weekly 50% level.

Next Week:- Gold could climb upwards if it remains within the Weekly levels (white)...

However, my view is that the next 4 weeks will continue to flip-flop around Primary support until November...

short-term weakness is based on price trading below 1637.

Silver Primary and Weekly cycles

Silver could climb upwards if it's trading above the weekly 50% level...

but hit resistance around $35.97

However, my view is that the best price to BUY silver remains around lower support levels @ $24-$25 in the Primary cycles (October lows)

GOLD & SILVER 1st October 2011 Weekly report

GOLD Primary and Weekly cycles

Gold has rotated back down into a major support level in the 4th quarter. (SUPPORT)

All trends originate from these levels and continue outward, and if the Primary cycle trend remains bullish it shouldn't spend anytime below SUPPORT. The last time that occurred was  in July 2008, when price was $922.00

The most bullish patterns have been occurring in the 2nd month of the Quarter, as price in the first month rotates down into support, and then the 2nd month rises up from support and continues upwards during each individual quarterly cycle.

However, this is the first month of the quarter, and it's already trading around support, so it wouldn't surprise me to see the next 4 weeks consolidate around support.

When we look at the Weekly cycles (right chart).... there is a potential rejection pattern around the Weekly 50% level that could see price move towards next week's lows and as low as the October lows

In conclusion:- if you are bullish and believe that GOLD is going to continue higher, then these are the levels that should be of most interest.

Just keep an eye on the Weekly cycle for short-term weakness.

Silver Primary and Weekly cycles

Sliver found support around its Weekly lows this week, but in my opinion it's likely to dip down into the October lows, which coincide with the Yearly 50% level.

Anywhere around $24-25 looks like a robust support zone, validated with lesser timeframe cycles

GOLD & SILVER Weekly Report 24th September 2011

GOLD Primary and Weekly cycles

As per previous report, Thursday's close below the Weekly lows was going to put pressure on the trend.

And as we can see in the above chart, price is moving back towards the July breakout (3rd Quarterly highs), matched with next week's lows @ 1590-1594

However, in the short-term, there's a good chance that Friday's price action will see a move upwards next week & back towards the Weekly breakout  & September 50% level.

Once that occurs the trend is likely to be sold down once again towards 1594,  providing new levels for the 4th Quarter.

SILVER Primary and Weekly cycles

Silver is heading back towards the yearly 50% level @ 24.93.

However, next week is likely to see an upward move towards the September lows @ $34.31.

once that occurs the trend is likely to be sold down towards next week 's lows @ 28.16, and then $24.93 in October.

Note:- $24.93 is a robust support zone for 2011

GOLD Report 22nd September 2011

GOLD Primary and Weekly cycles

As I've been mentioning for a number of weeks now...

for the trend to continue higher into the 4th Quarter and then 2012 price would revisit the Weekly lows in September, find support, and then begin the next move upwards.

As we can see in the above chart, price has moved down into the Weekly lows, but it hasn't found support.

That might change if Friday closes higher, or  next week opens above  the September 50% level....

However, on most occasions the market won't break the Weekly lows @ 1752.

Whilst price is below the Weekly lows any view that the trend is going to continue higher is now open to RISK

GOLD Silver Weekly Report 18th September 2011

GOLD Primary and Weekly cycles

I would like to see GOLD hit the Weekly lows this week...

and then begin to move upwards over the coming days....

as this will form part of an expected move towards new highs in October.

Silver Primary and Weekly cycles

As view as GOLD

GOLD & Silver Weekly report for 17th September 2011 will be out on Monday afternoon (4pm).

nothing has changed from previous reports,  the Weekly lows remain the support zones

GOLD & SILVER Weekly Report 10th September 2011

GOLD Primary and Weekly cycles

Trend bias in the Primary cycle is to continue towards higher highs in October, and then push towards new highs in 2012

However, I would still like to see price retest the weekly lows in September before the trend follows the quarterly breakout pattern from July into October's highs

Silver Primary and Weekly cycles

Same applies on Silver...

Expectation of higher highs in October

but I would like to see price come down into trailing support levels that coincide with GOLD reaching the Weekly lows, before the next upward leg begins

GOLD & SILVER 3rd September 2011 Weekly report

GOLD Primary and Weekly

Looks to be following the Weekly range towards the highs...

Keep an eye on the Weekly level @ $1869...

simply because we have moved into September, and the trailing Weekly lows  are the Support zones for a move towards new highs into October (4th Quarter)

Silver Primary and Weekly cycles

Same applies with Silver