GOLD & SILVER 7th April 2012

GOLD Primary and Weekly cycles

2nd Quarterly 50% level is pushing GOLD lower...

With long term support around 1465/95.

In the Weekly cycles, GOLD has completed the minor break and extend pattern into this week's lows.

This could result in a short-term counter-trend move upwards, as it remains above the Yearly 50% level.

However, below these current lows GOLD will likely continue to trend down towards the April lows @ 1566

SILVER Primary and Weekly cycles

Primary trend suggests more weakness towards the lower Support zones @ $23.30...

That will only happen if Silver breaks the Weekly lows @ 30.70...

Therefore next week's support zones remain around the Weekly lows.

Below those weekly lows and the trend bias is to follow the monthly cycles towards the April lows @ $27.79

GOLD & SILVER 31st March 2012 Weekly Reports

GOLD Primary and Weekly cycles

Gold is about the start the 2nd Quarter below the 50% level, as shown in the left chart.

And based on the current price action is likely to continue down towards the Weekly lows. (random support)

However, that can quickly change if GOLD is trading above the April 50% level

SILVER Primary and Weekly cycles

April 50% level will define whether the price of Silver continues down towards the Weekly lows. (or not)

Note:- current primary trend remains bearish, as it's below the 2012 Yearly 50% level.

Long term Support remains around $23.00

GOLD & SILVER 24th March 2012 Weekly Reports

GOLD Primary and Weekly cycles

Weekly cycles remain bearish, whilst the Primary cycles and 1st Quarterly 50% levels continue to Support GOLD.

The defining moment on the trend of GOLD will begin in April, and the change in the 2nd Quarterly cycles.

Therefore, traders need to see GOLD trading above the Weekly 50% level over the next 3-days for the UP trend to be held...

otherwise GOLD will likely come under pressure from April onwards.

SILVER Primary and Weekly cycles

Silver remains bearish within all it's timeframe cycles.

As with GOLD, silver needs to be trading above the Weekly 50% level.....

otherwise the long term support zones will be the levels of interest in 2012.

GOLD & SILVER 17th March 2012 Weekly Reports

GOLD Primary and Weekly cycles

Last week's view was the GOLD & Silver would remain above support levels and continue higher.

However, that quickly changed when Tuesday failed to remain above the Weekly level followed by price breaking support levels in March. (March 50% level)

When we look at the Weekly cycles, the trend remains below Support levels and could continue to follow the Weekly cycles towards new lows.

However, in the Primary cycles, the 1st quarterly 50% level @  1634 is supporting the price of GOLD.

What traders need to keep an eye on is the start of the 2nd Quarter (April)... as this will define whether GOLD moves upwards, or it possibly dips back towards the Yearly 50% level, and lower to long time Support levels @ 1460-1495.

Short-term:- next week could remain within a tight 5-day range below the March 50% level, whilst the 1st Quarterly 50% level supports the price

SILVER Primary and Weekly cycles

I had the same view as GOLD, of it remaining above Support and continuing higher, but that didn't eventuate.

Next Week:- it's a simple case of price either remaining below the MARCH 50% level, as price is once again below the Primary 50% levels...

or it finds some buying support, and continues back towards the Weekly 50% level.

GOLD & SILVER 10th March 2012 Weekly Reports

GOLD Primary and Weekly cycles

GOLD was able to remain above the Weekly lows, after closing below support on Tuesday (Fake break)

Fake break patterns often continue with the overall trend, and that means a move back towards the Weekly highs, and as high as the Monthly highs by April.

The only thing that will be of concern is, if the next 5-days fails to remain above the Weekly 50% level and consolidates above these support levels.

Traders would have to keep an eye on a potential break of support in the last week of the month and first Quarter

Silver Primary and Weekly cycles

The same applies for Silver, Weekly low support will often extend up towards the monthly highs by April.

However, if Silver fails to remain above the Yearly 50% level and continues to consolidate below the Weekly 50% level for the next 5-days...

then the last week of the current Quarter could be open to Risk.

In conclusion:- both Commodities remain stable above support zones in the 1st quarter, and expectation is that they will continue upwards

GOLD & SILVER 3rd March 2012 Weekly Reports

GOLD Monthly & Weekly cycles

GOLD has revisited the monthly 50% level and 1st Quarterly level @ 1687.25...

The trend bias remains robust, as longs as it remains above these levels

Anything below the Weekly lows is open to RISK

SILVER Monthly and Weekly cycles

Primary trend remains UP, as long as it's above the Yearly 50% level...

The trend will change, if it's below the Weekly lows.

Next Week:- Weekly 50% level is the trend guide

GOLD & SILVER 25th February 2012

GOLD Monthly & Weekly cycles

Trend bias is up, with the trend to continue towards the monthly highs in March-April (2nd Quarter highs)

In the short-term, next week's trend guide is based on the Weekly levels, with support @ 1761

If there is any weakness during the current Quarter (in March), the levels in the Primary cycle come into play @ 1687.25

Silver Primary and Weekly cycles

This week's price action is extremely important in the primary cycles...

because above the Yearly 50% level has a trend bias is to continue upwards, and follow the trend towards the 2012 yearly highs

Short-term:- Weekly level @ $34.80 will define whether the trend continues up into the February highs and then the March highs

GOLD & Silver 18th February 2012 Weekly reports

GOLD Primary and Weekly cycles

Trend bias is UP, as long as it remains above the Weekly lows

next week's trend guide is the Weekly 50% level

Silver Primary and Weekly cycles

Silver had a good reason to rise last week, using the Weekly 50% level as support...

However, as mentioned before, the Primary 50% level in 2012 is a major resistance zone, and may continue to act as resistance for the rest of the 1st quarter.

Weekly lows are seen as the last Support zone for the first Quarter...

anything below is open to risk of moving down towards $28.56

GOLD & Silver 11th February 2012 Weekly report

GOLD Primary and Weekly cycles

If GOLD is going to continue to move upwards during February, then it shouldn't be trading below the Weekly 50% level.

next week's trend guide is the Weekly level @ 1730.

SILVER Primary and Weekly cycles

If we subscribe to the patterns in the Weekly cycles, then price should continue to move upwards using the Weekly 50% level as the trend guide and Support

However, Weekly cycles are driven by the patterns in the Primary cycles...

and as we can see, the Yearly 50% level is forming a resistance zone, and may continue to do so for the rest of this Quarter.

Anything below the Weekly lows and February 50% level is seen as extremely bearish.

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.