GOLD & Silver 27th August 2011 Weekly report

GOLD Primary and Weekly cycles

Gold's reversal last week wasn't unexpected, because I've been saying for a couple of weeks now, that if the trend is going to continue with the breakout in July towards new highs in October...

price needs to revisit the Weekly lows in September.

As we can see the trend reversal was down from the Weekly highs into the Weekly 50% level forming support. This could result in GOLD moving back upwards.

However, keep an eye on a double bottom over the next couple of weeks that aligns with the Weekly lows @ 1694 to 1679

Silver Primary and Weekly cycles

In the short-term, Silver should move up into next week's highs.

Those highs could form a resistance level and push price back down into the trailing Weekly level, which coincides with the Primary 100% level. (last week's report)

This week has seen Silver move up into the Weekly highs and reverse back down into the trailing Weekly levels.

Current trend continues to remain supported.

Current price action suggests a supported 5-day pattern next week coming into the start of September, and the next monthly 50% level will be the trend guide.

Another pattern to keep an eye on if Silver is going to move upwards over the next couple of months , I'd align the next upward trend with GOLD hitting the Weekly lows.. (support)

GOLD & SILVER Weekly Report 20th August 2011

GOLD Primary and Weekly cycles

GOLD contines to rally as it's following a Quarterly break and extend pattern from the July highs towards new highs in October.

However, to get back into the trend price needs to revisit trailing support in September (Weekly lows @ 1655)), which matches the 100% level @ $1679

Silver Primary and Weekly cycles

Silver has continued to move upwards after rising up from the Weekly lows and helped by a breakout of the Weekly highs, with a target of $49.43

In the short-term, Silver should move up into next week's highs.

Those highs could form a resistance level and push price back down into the trailing Weekly level, which coincides with the Primary 100% level.

If the trend is going to continue upwards, it should remain above $40.81

GOLD & SILVER reports 12th August 2011 Weekly

GOLD Primary and Weekly cycles

GOLD has spiked on the US credit downgrade, and the trend continues to follow the breakout patterns in the Weekly timeframe.

As noted in the previous reports, this trend can last towards higher highs into October (4th Quarter) and then into higher highs into 2012, and the next primary cycle.

However, the price remains in a bubble pattern above 1679 until it revisits the Weekly lows, and it might not revisit the Weekly lows until September.

SILVER Primary and Weekly cycles

Silver remains within a consolidation band above higher timeframe support levels.

As long as Silver remains above $36.80, the trend should continue towards higher highs into 2012

But in the mean time, Silver could continue to consolidate for the next couple of weeks into September, and then decide whether it will begin the next leg upwards using a support thrust pattern and the monthly 50% level.

Gold & Silver Weekly Report 6th August 2011

GOLD Primary and Weekly cycles

Gold has reached the 2011 Yearly target @ 1679 and stalled.

This is my top target for 2011, but as explained in the previous report, there are a number of breakout patterns that can continue to extend towards higher highs.

The first being the Weekly breakout, that could extend towards next week's highs @ 1693.50

As we saw the Weekly high @ 1644 form support on Thursday, after sellers appeared once 1279 was reached.

The 2nd Breakout pattern is the July breakout that could extend towards higher highs in October (target unknown as yet)

But for those who have read my book, the next pattern to capture the July breakout is a retest of the Weekly lows in the 3rd month of the Quarter (September)

Therefore 1279 has been reached and could act as a major resistance level for the rest of 2011.

However, there is a possibility that the trend continues upwards next week, but.....

it's the trailing Weekly lows that long term traders want to see retested *( Validated)

Silver Primary and Weekly cycles

Silver has struggled to rise higher than the 2011 Target @ 40.81

And with this week's price action, likely to continue down into the 3rd quarterly 50% level @ $36.80...

$36.80 is a major support zone.

Long term traders (holders of Longs) don't want to see the price of silver trading below this level.

GOLD Report part 2 (3rd August 2011)

Gold continues to move upwards with the expectation that it will move towards the August highs @ $1658... And the price of Gold could hit the 2011 target early next week $1679

(Weekly report)

GOLD Primary and Weekly cycles

 Gold has reached it’s August highs, and will probably reach it’s Yearly high target @ 1677/79 over the next couple of days.

The Price of Gold could continue to trend upwards, based on the Quarterly breakout pattern in July, that could extend towards the 4^th Quarterly highs in October (target unknown as yet)…

And it could also continue to extend upwards into the highs of the next primary cycle in 2012 (targets unknown as yet).

Both these patterns are based on break and extend patterns in the current timeframe cycles (Primary & Secondary), that extend towards the following cycle highs in the future.

However, once it starts to trade above $1679, gold moves into bubble territory for 2011, which is a similar pattern that occurred in Silver earlier this year.

Therefore once 1675/79 is reached, the next long term BUY zones become the 3-month lows….

 Traders could validated tops by using a Weekly 5-day cycle close (Friday) and use next week's open to determine whether the trend has continued upwards in the short-term, or sellers appear.

Note:- there is a breakout of this week's highs @ 1644, therefore there is still the possibility that this 5-day cycle continues towards next week's highs 

GOLD & Silver 30th July 2011 Weekly Report

Whilst Gold remains above the July highs, in theory, it should continue to push upwards and follow the weekly high cycles over the next 2-weeks and complete the move into 1677 by the first week of August...

Previous Weekly report

Gold Primary and Weekly cycles

Gold continues to move upwards with the expectation that it will move towards the August highs @ $1658...

and if they don't do anything over the weekend to rectify the debt ceiling issue, price of Gold could hit the 2011 target early next week $1679

Note:- if something happens and they raise the debt ceiling, along with the Friday high pattern, then next week will start with a 2-day reversal down towards the Weekly level $1594

and could reach the August 50% level by Friday...

If it does move down into the August 50% level @ $1574 by next Friday, then that level will be used as a trend guide of another attack towards the 2011 target (following Week)

Silver trading above the July 50% level, and in theory it should continue to follow next week's cycle highs...

 and then another 5-days upwards at the start of August... (Previous Weekly report)

Silver Primary and Weekly cycles

Silver not as robust as gold, as the 2011 highs @ 40.81 continues to resist the trend from rising..

The short-term support level on Silver is next week's 50% level $ 38.96, and whilst it's above that level, the trend bias remains up.

However, if below, then the trend will revisit the 3rd quarterly 50% level @ $36.80 

GOLD & Silver Report 23rd July 2011

Gold Primary and Weekly cycles

GOLD continues to trade above the July highs @ 1576,

with an overall target of $1677 for 2011

Whilst Gold remains above the July highs in theory it should continue to push upwards and follow the weekly high cycles over the next 2-weeks and complete the move into 1677 by the first week of August.

The only concern is if the next 5-days continues to consolidate in a sideways pattern..

if that happens then the first week of August could move back down towards the August 50%

Silver Primary and Weekly cycles.

Silver trading above the July 50% level, and in theory it should continue to follow next week's cycle highs...

and then another 5-days upwards at the start of August, with an overall target of $49.43 during this Quarter

Weekly level @ $39.00 (short term support)

Quarterly 50% level @ $36.79 (SUPPORT)

GOLD & SILVER Report 16th July 2011

GOLD Primary and Weekly cycles

Gold has reached its 3rd Quarterly highs @ $1594, with an overall target in 2011 @ $1677+
There is a breakout of the Weekly highs @ $1568, that should push up towards next week's highs...

If that happens I would look for the Price to slip back towards $ 1568 to $1552

Silver Primary and Weekly cycles

Silver should continue up towards next week's highs :- 40.35 to 40.81.

And Even though Silver could follow the same pattern as Gold and continue towards the 3rd Quarterly highs @ $48+

there is also the possibility that price revisits the Weekly level  @ $37.34 next week

The Quarterly 50% level @ $36.75 is your trailing support price for the rest of this Quarter.

GOLD & SILVER Report 9th July 2011

Friday's price action has the hallmarks of getting buyers excited on the metal once again if it begins trading above the July 50% level & $1502.90... that could see the trend make its way back towards the recent highs once again.

Previous Weekly report

Gold Primary and Weekly cycles

As noted in last week's report, the price action around the BUY set-up had to validated by price trading above the July 50% level and Weekly level $1502.

once that happened, the trend bias was to move back towards the highs.

Next Week:-

Short-term trend guide is based on the Weekly level @ $1540, which could see the trend follow the weekly highs towards next week's highs.

otherwise the Weekly 50% level is the trailing support level @ $1516

Silver Primary and Weekly cycles

Keep an eye for a possible up move, if Silver tests next week's lows @ $32.96 and buyers appear...if it breaks the 5-day highs/ Weekly 50% level, the price of silver could quickly move back towards $37-$39.....

Previous Weekly report

Silver didn't move down into the BUY set-up, but it did break out of the 5-day highs and Weekly 50% level.

The trend has continued back towards the Quarterly 50% level @ $36.80.

The Quarterly 50% level level along with the Weekly level $36.24 will determine whether Silver continues to move up towards $39+

If not Silver, can move back down towards $33.00 later in month.

GOLD & SILVER Report 2nd July 2011

GOLD Primary and Weekly cycles

GOLD has continued with its downward reversal pattern at the start of the 3rd quarter, and looks to be moving down into the 3-Quarter support levels.

Those support levels are an ideal level to get back into the trend for all those that are still bullish on the metal.

Don't hold longs below $1446

However, what happens if those support levels aren't reached...

Friday's price action has the hallmarks of getting buyers excited on the metal once again if it begins trading above the July 50% level & $1502.90... that could see the trend make its way back towards the recent highs once again.

Silver Primary and Weekly cycles

 Silver has started the 3rd Quarter below the 50% level, which can often lead to more downward pressure, and see price move down into the July lows @ $30.17

Over the past 3-weeks the price of silver has followed the Weekly range, making lower lows, and that may continue into next week's lows

Note:- keep an eye for a possible up move, if Silver tests next week's lows @ $32.96 and buyers appear.


if it breaks the 5-day highs/ Weekly 50% level, the price of silver could quickly move back towards $37-$39.....

And if it begins to trade and consolidate above the Quarterly 50% level once again, the upward trend will likely resume.