by Bill Downey     Price Analysis of Gold and Silver
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Technical Analysis Trading Gold, Trading Silver/ analysis By Bill Downey providing key turning points & charts for investors and speculators in Precious Metals Trading, and Precious Metals Markets

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Bill Downey, of Gold Trends.net, LLC, is an Independent Investment Analyst with over twenty years of study. YOU SHOULD NOT TAKE ANY MATERIAL posted on this WEBSITE AS RECOMMENDATIONS TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED. Do your own due diligence. No one knows tomorrow's price or circumstance. The author intends to portray his thoughts and ideas on the subject which may s be used as a tool for the reader. GoldTrends does not accept responsibility for being incorrect in its speculations on market trend or key turning points that it may discuss since they are at best a calculated analysis based on historical price observations.

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Gold and Silver lows for March seem to be in place

19 Mar 2015 11:27 AM | Bill Downey (Administrator)
Gold Chart

Our favored target of 1142-1146 (on the website reports) held this week and the forecast for a rally off the FOMC meeting into the first week of April has commenced. So far so good as the 1175 resistance pullback was back down to the short term moving averages we watch to gauge near term trends. As you can see the pullback was right back at the moving averages ranging from the Gold Micro 10 ounce contract trade low at 1158.80, the spot price at 1159.53 and the Comex gold price at 1159.80. Yesterday’s website signal was sent out for a long position at 1159 and thus today’s pullback has allowed for entry at that level for subscribers who may have missed the initial signal.

gold hourly price chart


Gold Continued

For Thursday, resistance will remain as listed on last night’s website daily update at 1175-1182 and support at 1155-1162. The forecast for higher prices out of FOMC to April 3rd (plus or minus 72 hours) is in play but keep in mind that markets have odds, but no absolutes. What we want to see next is the blue moving average move ABOVE the GREEN average. That will put the short term trend from the Neutral reading it achieved yesterday to a bullish reading. ANY CLOSE BELOW 1137 negates the short term trend from up to down.

Gold Cycles
The short term gold cycle that was due March 20th (plus or minus 72 hours) had its “window” open on Tuesday, which was the day gold reached its 1141.60 low and the Trend line on the chart. If this short term cycle which will last until April 3rd (plus or minus 72 hours) is to play out, odds favor that the low was achieved yesterday. While gold can still make a low until Monday, odds are currently in favor of that not happening. The other factor that argues for a gold bounce is the RSI on the chart. As you can see, the last three times this under 30 level was reached, gold had decent bounces. In summary, a short term bounce in gold is under attempt but the medium term trend in gold remains down. Thus for now, we feel a bounce into the 1st week of April is the odds favored outcome.

Gold cycles

Silver
Silver’s short term trend has moved from Neutral to Bullish as the blue moving average has crossed the green. Look for support at the averages and at the dual black dotted trend line as well as the lower red dotted channel line. If things play out as odds are expected, silver should move higher into the first week of April. The next resistance levels are the 1619 to 1650 area. Thus we have 1619 as resistance today but odds favor silver will reach to the 1650 area some time next week where the first real test of the short term uptrend should take place. ANY CLOSE BELOW 1525 is our failsafe and would negate the short term forecast for higher prices into the first week of April.

Silver hourly






Technical Analysis :: Gold & Silver

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