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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Cycles, seasonal tendencies and Silver giving lots of reason to be cautions in short term gold

26 Feb 2016 9:18 AM | Bill Downey (Administrator)

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The high that occurred on Wednesday at 1253 made a mess of the cycles,  It is possible that a Cycle Inversion could have taken place where we have the potential that the blue cycle made a high instead of a low.  The window closed last night and the only way we are going to know that ITS NOT A INVERSION is if gold rallies above 1253-1263.   The bottom line is that we need to be very cautious here.  Lets go to the next chart.  




The other reason I'm concerned over these next two weeks is that on the seasonal chart below, the latter portion of February to middle of March on average is a weak time of the year and as you can see, its prone to producing big sell offs.  Not that IT ALWAYS sells off,  but it does so more often than not.  




Finally, Silver is not acting well at all as it moved from 1490 to 1560 but has now given up almost all its gains. Its very close to losing support at 1502-1507 and could fall back into the channel where a move lower to 1480 and even 1460 could take place.  Not only that, but the green 200 hour moving average has moved above the blue 89 hour and until silver can close back above those averages, the very short term trend is vulnerable to a selloff.





Lastly, the G-20 meets Friday and Saturday and there should be a lot of discussion about a lower dollar.  In other words, this could be a fake out before some announcement.   

Is that why gold is still above the very short term moving averages and the 89 hour average is still above the 233 hour.  Perhaps gold is reluctant to sell off in lieu of the G-20 and what could happen where silver is not affected the same way.  We just don't know for sure.  It's best to be cautious in short term outlooks.  The potential for lower prices can't be dismissed..  




BOTTOM LINE ---- BE CAREFUL as there's a lot that's not right at the moment and we need to be suspicious.




Technical Analysis :: Gold & Silver

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