GOLD & Silver 4th February 2012 Weekly Report

GOLD Primary and Weekly cycles

I still have the view that the price of GOLD will continue up into the February highs, first target 1777.

However, a short-term pullback into trailing support levels is part of the move.

SILVER Primary and Weekly cycles

Primary 50% level (Yearly 50% level @ $34.51) has stalled the trend from rising.

This is a major resistance zone that can last for a number of months.

However, if Silver is going to continue upwards...

the ideal pattern would be for price to come down into the Weekly 50% level, and then make a move towards the Monthly highs:- first target the Weekly highs. $34.93

 the Weekly level @ $33.55 will be the trend guide on whether there is a short-term pullback or not.

GOLD & SILVER Weekly Report 28th January 2012

GOLD Primary and Weekly cycles

GOLD is following a 2-month wave pattern during the first Quarter from the January 50% level towards the February highs

potential pattern would be a short-term reversal towards the February 50% level and then a continuation up towards the February highs.

SILVER Primary and Weekly cycles

Silver's price action was to rise back towards the Yearly 50% level in 2012 @ $34.51.

This level could act as a resistance zone, but when we look for the Weekly cycle patterns....

there could be a further rise upwards, as part of a 2-month wave extension during the 1st quarter.

GOLD & SILVER 21at January 2012 Weekly report

GOLD Primary and Weekly cycles

Weekly Cycles are driving the price of gold in the short-term :- UP

Price has been trading above the higher timeframe 50% levels for the past 2-weeks, and could continue to push higher.

However, the interesting level during the first Quarter will be whether 1687.25 will form a resistance zone for the next 8 weeks, and move into a sideways pattern until the 2nd Quarter.

Silver Primary and Weekly cycles

Silver rotating UP towards the higher timeframe 50% levels.

Next Week's highs could form a random resistance zone, which aligns with the 1st Quarter 50% level...

however, the price of Silver could continue up into the Yearly 50% level @ $34.51, which is seen the Primary resistance zone.

Even though I think SILVER will move down into the 2012 Yearly lows, there is nothing in the short-term cycles that suggest that will happen (just yet)

GOLD & SILVER 14th January 2012 Weekly report

GOLD Primary and Weekly cycles

Gold has continued higher following the Weekly timeframe cycles, but price failed to breakout of the Weekly highs.

Based on the current price action, the January 50% level and Weekly level will most likely  push the price upwards in the short-term towards this Week's highs @ 1678.50.

Price of Gold is also above the Primary cycle 50% levels, which is a good sign, and  it over-rides my initial view of further weakness during the lst quarter.

As long as it remains above the January 50% level the trend bias is UP.

Note:- be aware of any reversal patterns around this week's highs and next Friday's close, because if Friday closes back below the January 50% level, it is likely to push pressure on the price of GOLD once again. 

Silver Primary and Weekly cycles

Silver followed the same pattern as Gold, and will likely continue higher if above the January 50% level @ $29.87.

upward trend is towards the 1st Quarter 50% level @ 32.69. (Random resistance this week's highs)

Long term BUY support remains around the 2012 Yearly lows.

GOLD & Silver Reports 7th January 2012

GOLD is starting the new Primary cycle below the 2012 Yearly 50% level, which is bearish...

It could move above 1599 during January and test the Monthly 50% level @ 1631, but those levels are seen as resistance. (Previous Weekly Report)

GOLD Primary and Weekly cycles

Gold has moved upwards and tested the January 50% levels, hitting and stalling at 1631.

As per previous report, these levels are seen as resistance, with the expectation the trend will continue back down towards the January lows.

However, if I'm wrong, then price will push up from the Weekly 50% level and breakout of the Weekly highs.

 SILVER Primary and Weekly cycles

I continue to be bearish on Silver, with the expectation price is moving down into the January lows, and towards the larger Secondary and Primary support levels in 2012

If I'm wrong, then price will breakout of the Weekly highs and begin a move back towards the 2012 Yearly 50% level. (1st Quarter 50% level @ $32.69 as first target.

GOLD & SILVER 31st December 2011 Weekly Reports

GOLD Primary and Weekly cycles

GOLD is starting the new Primary cycle below the 2012 Yearly 50% level, which is bearish...

It could move above 1599 durinng January and test the Monthly 50% level @ 1631, but those levels are seen as resistance.

At this stage my view is that the trend is going to continue lower and move down into the January lows, with first Quarter support around 1430 to 1492...

And then a possible move down into the 2012 Yearly lows by the 3rd Quarter.

SILVER Primary and Weekly cycles

First BUY zone on Silver is around the January lows and the first Quarterly level @ 24-25.50.

The swing target is the 1st quarterly 50% level @ 32.69, and as high as the Yearly 50% level @ $34.51

The Yearly 50% level is seen as resistance...

For those that want to look to BUY Silver for the medium to long term (3-months & longer)....

my view is that it will struggle to move higher than the Yearly 50% level for the first 6-months.

AND you DONOT want to see Silver trading below Yearly support (19.85 to 22.65)...

as it will likely extend to new lows into 2013.

GOLD & Silver Weekly Report 24th December 2011

GOLD Primary and Weekly cycles

Gold continues to look weak using the lesser timeframe cycles.

However, the critical cycle begins the week after next when the 2012 Primary cycles kick into gear.

The new Primary cycle will determine whether Gold follows the same bubble pattern as Silver, and continues to move lower during the first quarter

Silver Primary and Weekly

Trend bias is to continue down into the Support levels for 2012.

In the short-term, the Weekly levels will determine whether the last week of 2011 continues down into the weekly lows...

or up towards the Weekly 50% level and towards the first quarterly 50% level (Resistance)

GOLD & Silver Report 17th December 2011 Weekly report

GOLD Primary and Weekly cycles

Even though Gold could rise upwards in the last 2-weeks of the month, as part of retesting last week's breakout @ 1668...

My view is that if price is trading below the 2012 Yearly 50% level, the trend bias is down, into the first Quarterly levels

SILVER Primary and Weekly Cycles

Trend bias is down into Support levels for 2012

GOLD Report 15th December 2011 Daily report

GOLD Primary and Weekly cycles

Same 'bubble' pattern as Silver, but delayed in the price action by
about 3-months:- confirmed with the Weekly low breakout @ 1668

Random support December lows...@ 1556

But the critical level in the 2012 Yearly 50% level, whilst below that
there is a trend bias back towads the first Quarter level @ 1440...

and as low as the Yearly lows by the 3rd Quarter.

GOLD SILVER Weekly Report 10th December 2011

GOLD Primary and Weekly cycles

Gold continues to consolidate until the end of this Quarter, as it remains below the December 50% level.

Short-term the price action remains weak.

However, for long-term Gold traders the level that needs to be watched is the 2012 Yearly 50% level.

This level will define whether the current Bull Trend continues towards the 2012 highs

Silver Primary and Weekly cycles

Everything remains weak in Silver, as it struggles to move above a number of timeframe resistance levels in the 4th Quarter.

And if it can't breakout of the Weekly highs by the end of this month...

Then there is a good chance that Silver will be pushed down towards the Support Zone, as shown in the Primary Chart