GOLD & Silver 19th MAY 2012 Weekly reports

GOLD Primary and Weekly cycles

With all the crap occurring in the Euro zone with Greece, there is enough reason to park some money in Gold...

and see it continue to rise.

However, the fundamentals don't match the technicals, and just by looking at the technicals 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.

Silver Primary and Weekly cycles

Silver showing some buying, but the technicals don't match for continued strength.

long term support resides around the Primary cycle lows (support)

GOLD & SILVER 12th MAY 2012 Weekly Reports

GOLD Primary & Weekly cycles

Breakout of the Weekly lows should extend down into Next week lows, which is likely to provide a swing zone for a rise upwards.

However, the rise upwards will be short-lived, as the trend bias is to follow the MAY low breakout and extend down into new lows in June...

to coincide the Quarterly Support levels, as shown in the Primary cycles @ 1464/95

SILVER Primary and Weekly cycles

Trend is liklely to continue down into the Primary Support zones...

Whilst having short-term counter-trend moves upwards until then (Weekly cycles)

GOLD & SILVER Weekly Report 5th MAY 2012

GOLD Monthly and Weekly cycles

As mentioned in last week's report.... I though GOLD would struggle to Rise upwards, and it now appear price will continue to consolidate during the Current Quarter.

Weekly 50% level is the trend guide :- potential resistance.

for a move down into Random Support zones (Weekly lows)

SILVER Primary and Weekly cycles

Even though Silver continues to consolidate within the Primary cycle ( higher low), the overall trend remains bearish.

Next Week's lows are random Support zones, that may result in more consolidation within the Weekly cycles...

however, the MAY lows @ 28.99 is the attraction zone.

GOLD & Silver 28th April 2012 Weekly Reports

GOLD Primary and Weekly cycles

GOLD has found some monthly support @ 1625....

and is now likely to continue up towards the MAY 50% level

However, it's likely to struggle to move beyond that level.

Note:- Primary trend remains above the Yearly 50% level, therefore the Primary cycle is still bullish....

but it likely to continue to consolidate during the current secondary cycle (Quarterly)

SILVER Primary and Weekly cycles

Primary cycle remains weak...

Whilst the Weekly cycles have an each way bet in the short-term using the Weekly 50% level as the trend guide.

The Trend may move above the Weekly 50% level and find its way back towards the MAY 50% level (resistance)...

but it it has just as much chance of following the Primary trend, and continue down towards the new Weekly lows from Tuesday onwards.

GOLD & Silver 22nd April 2012 Weekly Report

GOLD Primary & Weekly cycles

Trend remains weak, as it consolidates below the April 50% level

SILVER Primary & Weekly Cycles

I still have the view that silver is moving towards the Weekly lows... (random support)

with long term support shown in the Primary cycle chart on the left

GOLD & Silver Reports 14th April 2012

GOLD Primary and Weekly cycles

The Price of GOLD is caught between a Rock and a Hard place during this current Quarterly cycles.

GOLD looks like it can continue to consolidate within a tight trading range within the Weekly ranges for a number of weeks

Trend guide Weekly 50% level

SILVER Primary and Weekly cycles

2nd Quarter Support resides around $30.71

long term support resides around $23.50

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.