by Bill Downey     Price Analysis of Gold and Silver
Follow Our Socials!

Click here to see the GoldTrends.net Google Plus page and subscribe! Click here to see the GoldTrends.net Facebook page and subscribe! Click here to see the GoldTrends.net Twitter page and subscribe! Click here to see outhe GoldTrends.net LinkedIn page and subscribe! Click here to see the GoldTrends.net YouTube Channel and subscribe! Click here to see the GoldTrends.net RSS feed list and subscribe!

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

Kitco



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.

US. Government Required Disclaimer

Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

 

 

Our Free Blog

The Free Blog

Our Blog is offered as a free service by GoldTrends.net to introduce interested parties to the world of Gold and Silver trends and trading.  Those choosing to get into the market may benefit by one of our subscription based products including our signals alerts and more!
  • 09 Feb 2012 11:45 PM | Bill Downey (Administrator)

    GOLD FEB 10 UPDATE

    GOLD---For Friday Feb 10Th

    Long Term=Up / Medium Term=Up / Intermediate Term=Up / Short Term =Down

    Recap and Overview
    As expected, the ‘control boyz’ (the big shorts in the market) once again did what they wanted to do with news and price.  In the end, the Greek debate status was in top form, as they announced an agreement just in time, but did not come to agreement on Greek pensions. The public translation is, we couldn’t come to agreement, but we’ll just say we did, and we’ll move to the next step in the process.  Besides, we’ll tell the public after the fact how much they lose.  Now is not the time as they are rioting in the streets. Thus the ‘control boyz’ took full advantage.

    For the third time they drove prices to our 1750-1767 resistance area. First they took price up to about an hour before London as that is their new intervention time as they try and change the AM/PM fixing trading results that has been going on over the internet.  Thus they took price down under 1730, and as the news started coming out, price ran up to 1752 as everyone piled on again in one hour. And again for the third day, they sold it off hard and all the new entries are now either out again, or the ones who have entered in the last three days,  and are still aboard, will not stay long if we break last week’s low. If we do, not only they, but a new group of longs will exit, and shorts will add to their position. 

    Coming into Friday, the short term cycle “window” closes after the day’s trading and unless we get another REVERSAL higher, prices coming into next week from a GoldTrends cycle perspective,the odds will favor the downside. In price, the stone wall 1755-1767 remains the price required to favor the upside. Otherwise, the odds favor lower on the short term.

    For the very short term and nimble traders, your strategy considerations can remain the same, consider shorting the weekly resistance area 1745-1755 in spot with stops above 1767 and consider profits near 1730 on ½ and breakeven on the remainder.   Since today was the 3rd rejection of this price, any break now of the lows of this week will favor 1650-1683.

    As far as the web site trades, I’m always trying to find a 1 to 4 week trend to get on and prefer not to day trade inside ranges.  That is just my personal preference.  I find that while, I make money, and it’s very easy to give it up just as fast.  My goal is to make money. Some months will be lean (last month in gold lean, but huge in silver).  The difference was I caught a good trend in silver and rode it.  In gold, I got stopped on my long from 1615 and it was a battle all month to find a set up that lasted after that. 

    Usually, I try and take 2 contracts on a position and sell one real quick 15 to 20 dollars higher and use that profit for my buffer on the other position in case price turns against the trade.

    Cycles are the only thing that has us alerted to the downside potential.  Gold and silver’s price has not turned down.
     
    Friday outlook

    Initial Resistance for 1740-1747 and 2nd tier 1754-1764
    Initial Support 1719-1726 and 2nd tier 1703-1711 and 3rd tier 1673-1683

    Last night’s resistance was listed at 1740-1747 and the high was 1752.  Support was listed at 1719-1726 and the low was 1729.

    As we discussed the last three days, a failure to reestablish new weekly highs above 1767 keeps the scenario the same as we saw at the November and December peaks.  Today’s failure is so far adds weight to the downside coming in to play. 
    Price still needs to exit this tight price range to get it going, but even that is increasingly favoring the downside.  With a reversal every day, we can’t say it won’t happen again either, but the odds diminish significantly on the 4th day for this to occur.  Depending on the outcome with Brussels and the Greek bondholders meeting might be the controlling factor again Friday.

    A close above that 1767 level, favors a test of the 1804.  If it can’t, odds favor the cycle pullback remains in play into next week and if 1700 gives way, look for 1640-1681. We’ll try and tighten the range once we see the pattern.

    Medium Term
    The situation on the long term daily chart shows this up and down motion right here is the battle of the trend lines. The bulls are trying to re-establish the 2011 uptrend line and neutralize this medium term correction.  The Green channel line is the break point where the bears would lose control.  We say that based on Gann Global and their extensive price data base. It shows a post high has never been exceeded without making a new high.  The fact that the Green trend line sits at the 1800 vicinity gives a lot of confidence that if it is exceeded, we should expect new all time highs in gold.  So we have our two price points.  1755-1767 and 1799-1822.  The first range has proven itself this week as the market recognizes that exact price range as a major price point.  This chart SHOWS us that if price breaks below the dotted uptrend line, there’s a lot of real estate before the next major support line.  Not only that, but look how the moving averages are arriving at the 2011 downtrend line at the 1640-1660 area. We’ve all seen how often price is pulled to channel lines when the moving averages arrive at them.  The bearish case gains credibility here after today’s drop. A WEEKLY CLOSE BELOW THE CHANNEL LINE PUTS THIS MARKET in trouble. A close below this week’s low and 1700 favors 1640-1681 as the next stop.


    Gold Daily longer term price chart with channel lines and support and resistance price points

     

    Intermediate Trend

    Moving Average Trend – Bullish since 159.90 – Current support (164.88-165.50)

    Swing Traders
    A close below 164.88 takes the trend out of bullish and goes to neutral undefined so it’s a consideration for an exit if your swing trading.

    The unbiased moving average trend remains bullish, but is at a key point.  In another display of how price is drawn to a moving average and trend line conjunction act as a magnet to price.  Thursday’s action did just that and price moved within one dollar of a perfect hit.   So now Thursday once again pulls back for yet another downside test.  The moving averages offer a second layer of support at 164.88-165.50.   A CLOSE BELOW 164.88 TAKES THE INTERMEDIATE TERM OUT OF BULLISH MODE and into neutral.  This would be yet another indication that this rally is losing steam and has the potential for a sell off.  Price needs to close above 171 to give the slightest relief and a close above 173.50-174 get above resistance.  In summary, the trend is still up, but the intermediate term is being challenged. 
     
    Gold ETF GLD Price chart with moving average trend indicator and channel and trend line price zones


    Short Term
    The Blue Dominant cycle “window” closes after Friday’s trade.  Thus as soon as we move out of this range, the real trend should be under way.  We’ve had three fakes, and avoided them, this next one favors it will be the real move.   Here to the 1767 area comes in play as any close above 1767-1775 would be a new HIGH beyond the cycle boundary established and would favor a higher move for 1 to 2 weeks.  If that happens, 1804 is the last resistance before 1900.
    On the downside, a break below last week’s low would favor 1640-1680.  If we haven’t entered by then, we will look to hop on.

    Gold Daily Price Chart with Short Term Cycle Turning points and trend lines 
    What Next?
    With a Fibonacci 23 up days, a pullback of 5, 8, or 13 days should be in play.  Regardless, the trading range is the yellow zone.  Note how we are right at the 13 day average at 1728 and the 2012 Channel’s lower line is at the 1715-1720 area.  The 34 and 50 day are right the 1660-1670 area and there’s a Gann red line there.  The edge of the trading range is 1695-1705.  We enter Friday with price at support, and still without a “SELL” signal from a price standpoint. Today’s price bar was also a bearish bar. Still it leaves us going into Friday, inside the trading range, above the channel line, and above at the 13 day.  Most indications favor the downside.  What we need to see is price break lower now.

    Friday can go either way, it’s the last day of the cycle window, or it’s prep for the weekend. EVERYONE else knows what we know, and the question is whether the market is getting ready to fake again to the upside?  When we weigh the evidence, price favors lower---but price has not broken down.  From a swing trader or position trader standpoint, one would want to see a close below 1700 to get bearish.  From a smaller trader standpoint, it is pure agony going short that far down into the move.  A consideration strategy is to go short by splitting the trade into three contracts.  If you trade the 100 oz, use three 33 ounce contracts, or if you trade the mini, use three 10 ounce contracts.

    Odds and the weight of the evidence favors lower. Price needs to confirm. I will post my own trade update at midnight New York Time.  The 2 am time period has been where the ‘control boyz’ have been working.  That’s about an hour before London opens.

    Bottom Line
    The trend is up but most indicators favor lower.  All indicators can favor lower, but price is the only one that matters.  From a trader standpoint, the play consideration is to use 3 smaller contracts, and short the on the way up to 1750 as a consideration. If you’re a bull and you favor that the shakeout we saw this week, is to get everyone off before we go higher, then the consideration is to play it the opposite way. One consideration would be buying here and then two more small contracts between here and 1700 with your stop below that.
     
    Friday favors a nervous day for gold and a lot of uncertainty is abound in all the players.  They have shaken the early entry longs three times this week.  The best way to convey Friday is that the odds favor the downside, but the “trend” is still up and hasn’t buckled---and price is right in the middle of the trading range. A move below the 13 day at say 1725 adds pressure, dropping below the trend line at 1710-1715 adds more and a drop below 1700 puts the short term downtrend in full gear. The weight has to favor lower on Friday. Any move above 1757-1767 will be another reversal.  With the long weekend here, and a dizzied trade, any news out of Europe or bad economic reports out of New York will add more confusion as it will negate all the good numbers we saw last week.  Even good news now will have traders thinking NO QE3.  It’s not going to be an easy next few weeks.  Favor lower---but as this week has shown, be ready for anything.


    Gold Daily Price Chart with support and resistance

  • 08 Feb 2012 2:09 AM | Bill Downey (Administrator)

    Gold and silver are testing key price area's on Wednesday.  As to whether the corrections in the metals are over, here's a few price charts to consider.  First up is the silver price chart using the Silver ETF (SLV). 

    Note how the price pattern from the 2008 liquidity crash had 6 basic price points and lasted just about 34 weeks.   We see the same pattern set up this time and the same time frame  (within a week). 

    So is the correction over?

    Odds favor that the price lows are in. During this entire bull market, silver makes a spike high, and then the first major down leg is usually where the price lows are made. That's the good news.  The not so good news is that it usually takes an additional six months to consolidate and trade in a price range before silver gears up for the next big move.  We think that's still to come,  but we should at least expect a trading range for a while.  The upper end looks to be either 35.50-36.50 or 38.50-39.90 over the next couple of months. 

    Silver using ETF SLV weekly price chart 2008 crash vs 2011 price pattern and time length

    In the gold market, the situation is that price is at a major channel line.  The key to the upside is the 1767 and 1804 area.  December has 1767 as the high point and the November 1804 price print is the post high since the peak.  If we close above 1767, it will most likely trigger a test of 1804.  According to Gann Global's extensive database, gold has exceeded a post high point and then made a new low without making a new high first.  Keep those two prices in mind---1767---to keep this week moving up, and 1804 as the ultimate test for the bears.  Look for a peak this week at 1755-1765 or 1799-1812.  Those are the two favored area's.

    Gold weekly Price chart with long term channel lines and price support and resistance points

    The Stock market has everyone calling that the downtrend line (dotted) has been exceeded. While that is correct,  the real key will be the upper resistance line.  The trend remains up, but the Wedge pattern will have to be watched carefully.

     

    Stock Market - SPY ETF (S&P500) Price chart with key trend and channel line support and resistance

     

     

     

  • 05 Feb 2012 1:28 AM | Bill Downey (Administrator)

    In order for this market to turn BULLISH at this point in time it must continue HIGHER FROM here for another two weeks and make a high at the NEXT RED cycle point. In other words, a double inversion. A single inversion (which we just saw,  happens about 20-25% of the time. A double inversion happens about 8 to 10% of the time.  If price does that, it would take out 1804 (Nov high) and would have the odds 99% in favor of new highs.  The cycle "window" is open this coming week. Ideal day is Feb. 7th (plus or minus 72 hours) If the cycle plays out, then we will see a pullback into the 21st of the month.

    When the market is in a bull trend, the lows are made on the dominant blue cycle and the highs are made at the red cycles.  When corrections are in play, the highs are made on the blue dominant cycle and the lows on the red. Had we pulled back into this time frame, the cycles would have been set up to signal an end to the correction.

    Gold Daily Price Chart with Short Term Cycle Turns

     

    The important thing to take away is that silver is inside the 2011 range and is challenging the long term blue line. The 2011 dotted downtrend line is just above the blue line near the 36 area.  This dotted line is next if NFP gives good news in the morning. That would provide the spike that would test the 2011 dotted downtrend line. There is an even more interesting line white line above the 2011 dotted that is the bottom of the old momentum channel. If silver breaks thru the 2011 downtrend line, a test of that white channel line would be in play. The odds continue to favor the upside, but silver must deliver here at these channel lines.

    Silver Daily Price Chart with Channel Lines of Support and Resistance zones

     

    Medium Term---Neutral
    GDX touched the lower channel line at the 49.22 three week's ago and has pushed up to the 58 area where a dotted downtrend line is offering resistance. 

    The choppy and overlapping price pattern has had over a year to forge new price territory but stubbornly remains inside a large trading range.  This type of pattern is not conducive condusive to a bull market. At least not until the pattern completes. Not always, but if the gold stocks are to move higher as a group, this type of pattern will have to go away. The most likely scenario for the pattern look is an Elliot complex correction labeled below. IF price cannot break above the dotted trend line where price is nudging against, then the pattern will be open for one final push down into the 48 area. 

    Key resistance for the coming week is the 58-59 area. The 34 week moving average (not shown) is at 57.22 and this weeks close remains below it.  Price needs to close above that dotted trend line to continue the upside.  Any drop back into the breakline zone will leave the potential for the pattern below to remain in force. The good news is that once the final wave is in, the pattern favors a higher price resolve as you'll see on the next chart.

    GDX Gold Stock Index Daily Price Chart with Elliot Wave Count

  • 02 Feb 2012 11:45 AM | Bill Downey (Administrator)

    Gold has reached our first resistance area for the week at 1755-1765 and has a chance of being the high for today and maybe the week. The rally is on its 23rd day and a pullback is due in this area.  The December high for the month was 1767 and the shorts are trying to stop to rally in this area.  However, gold has maintained a very strong price pattern.  As you can see by the chart, gold is trying to establish price points that will hold the current support line that it is encountering. Gold usually has a pullback from Thursday into Friday morning during weeks that have the NFP payroll data.  Thus,  the trend remains up, but a pullback into Friday could develop. If gold cannot get above 1767, a pullback to the 1744 area will be first support.

    Gold Price Chart with Channel lines and support and resistance zones

     

    Silver

    Silver is also at resistance at the 34.00-34.50 area and is the first weekly target of expectations.  Additional Resistance is the 35.03-35.50 area.  The tremendous 20% gain in January has brought new life to the silver market on a short term basis. A pullback is due and the first support area is that dotted blue Gann line below price and the yellowed out area at 32.20-32.60 area.  As long as we hold that area, the trend remains up on the short term.  Price has been at this 34 area all week and remains the key area for silver to overcome. 

    Silver Price chart with support and resistance Gann lines

     

    HUI Gold Stocks index

    Gold stocks have held the key support area of 480-500 all through 2011 and so far in 2012. As long as price holds this area, the trend will remain neutral.  Any break of 480 would suggest the gold stocks have more work to do on the downside. The trend is neutral.  February usually produces a short term peak during mid month, and a pullback into March ensues.  It takes a close below 480 on the HUI to turn the trend down.

    Hui Gold Stocks Daily Price chart with Support and resistance

     

     

     

  • 29 Jan 2012 3:30 PM | Bill Downey (Administrator)

    Gold
    The Gold Market continues to hold the Green momentum channel that was developed using the last liquidity crisis of 2008. From that price low, we constructed a "momentum" channel that has provided the velocity, slope and major support lines for the gold market. Even the upper channel line provided a major price peak resistance line. The most important point of that line is that it was DRAWN BEFORE the price highs, not after. And how about the Middle channel line. Price has only been above it once---or two months during the final blow off rally point.

    Is gold ready to re-enter that upper portion of the channel? The attempt is arriving now. For the upcoming week, the 1755-1775 area is the first point to watch. If price closes above the 1767 price area, it will have taken out the December high. That will be right up where that middle green channel line. Should PRICE CLOSE ABOVE the MIDDLE GREEN LINE on a monthly basis above 1804, odds will favor that the correction of 2011 is complete and a new up leg should be under way.

    Gold Monthly Price Chart with Trend Channels

     

    Silver
    The long term silver chart show us us the most important market point in the silver bull market. The long term blue line was the point that provided the HIGH PRICE RESISTANCE on every spike in this bull market. When it exceeded it in 2010, was the EXACT place that the acceleration took place in price. The crash of 2011 had the first leg support on this line during May and June. Then the September crash broke it and took price to 26. Look at how many times silver has come back to test this line. EVERY MONTH it comes back and tries to get above this line. ONCE price closes above this area on a monthly basis, this line will become LONG TERM SUPPORT and the bull market will have new legs.

    But what about all that talk about 200 and 500 dollar silver?

    If the bulls are correct about this, then price will re-enter the UPPER MOMENTUM CHANNEL. It's as simple as that. Only that type of SLOPE UP will support a move to these high levels. If we're going to triple digits -- there is no way that price will not enter that channel. And on this long term basis, there is only one line remaining that must be overcome to go test that momentum channel again. And that's the Long Term Blue line. Price is once again about to try and get above it. Join us on the silver button as we track the long term bull market. (check out the trading history for silver last year on our web site)

    Silver Monthly Price Chart With Long Term Channel and price support lines

     

    HUI Gold Stock Index
    The HUI gold index has been in a massive choppy and overlapping pattern all year. But when we take a long term look at the Gold Stocks, they show a 1000% gain from the 2000 low at 50. When taken in that context, maybe its the gold stocks that has been waiting for gold to catch up. In either event, as long as price continues to hold that base it has formed at 500, the long term trend is up. Once we bust thru the 650 area, odd will favor that the gold stocks will double over the next few years. The 34 month average has arrived at the bull/bear zone of support. IF this test is successful, which we favor it will, then the gold stocks will soon be joining the party again. After a year of consolidation, the market is "sober" as the froth has been wriggled out of it. We're not in a new up trend yet, and the past has shown that its going to take patience. PRICE NEEDS TO GET BACK ABOVE THOSE UPPER white lines and the 650 area. Until then, the medium term trend is NEUTRAL and the BULL MARKET has not yet resumed in this area.

    Hui Gold Bugs Index Monthly Price Chart With Long Term Channels and Support Lines

     

    US Stock Market
    The USA stock market is at a long term major resistance point. The exact low of 2011 was right where the long term up trend line and the 34 MONTH MOVING AVERAGE came in line to form a major low at 1072. Now we arrive at the most important point of 2012. We have a Cross road line junction and the LOWER bottom line OF THE 2009 WHITE MOMENTUM channel. Thus we have three ling term lines and PRICE STUFFED right underneath the "Triple Underpass."

    The chart message is clear.  A monthly close above these lines and the doom and gloom market bears are going to have to come up with a lot more explanations so they will stick to the one that is CORRECT---artificial stimulus and FED action. What about those who portend a crash is at hand? The long term chart says this is the last resistance until the 1460-1520 area in the S&P500 INDEX. That's 1000-2000 dow points higher then here. So if the bears are going to be right, they will have to be right near this area and price will have to react here. Otherwise, this market has the potential to move much higher on this long term chart. IF WE CLEAR THIS AREA,  FAVOR overall higher prices into the 20th of February---the week of President's day holiday and maybe the Easter time frame. Let's see what it does here. (Gann Overlay -- from Gunner24

    Spy (S&P 500 ETF) Monthly Price Chart with Long Term Channels lines of Support and resistance

     

    US Dollar Long Term Chart
    The Zoom in of the long term dollar chart shows that THE DOLLAR is on the VERGE of another major price failure due to the recent action of the FED. This market was ready to break higher after a 10 year bear market. Look how December price closed right ON THE CHANNEL LINE (you can't see the closing bar) And now the JANUARY BAR is about to close below the channel line as it has dropped over 240 pips here at the end of the month. Look how the 34 MONTH BULLISH BLUE AVERAGE HAS TURNED BACK DOWN and the read average is back above the blue. IF WE CLOSE THE MONTH below the BLUE MOVING AVERAGE, it becomes a RED FLAG for the long term trend as it will suggest that the DOLLAR is making it's cycle high for the year and will FAVOR another drop into the lower 70's again.

    It will take an all out LIQUIDITY PANIC coming out of Europe to take the dollar up any further from here. That is not beyond the realm by any means. We should have a good inkling next week if the revised "print till you drop" plan has enough speed to keep up with the global de-leverage that is going on. Watch that 34 month BLUE line as the key spot at the 78.77 area --- The red line is at 79.39 area. A monthly close below the blue line keeps the potential peak in play.

    US Dollar Monthly Price Chart with long term support and resistance channels

    EURO

    For the last few weeks we've posted on the Euro and the potential for a rally. We discussed that the EURO, instead of collapsing, could turn into a placebo for the German D-MARK. In other words, If the insolvent nations were to leave the Euro, it would not cripple it, rather it would increase its significance. We've also been highlighting a weekly chart of the Euro with a MAJOR HEAD AND SHOULD BOTTOM pattern. We've left the chart on the page under this chart.

    Finally, we've been discussing how the US Dollar has a high level correlation with January seasonal peaks. The chart below is the zoom in of the action for the last two weeks. The move has been strong and sharp. THE $1.25 area is the NEW SUPPORT BOTTOM FOR THE MARKET. The short term might be a bit extended here, but the point is that we don't necessarily want to write off the Euro. Can it go to par like some noted analysts suggest? Yes it could---but if that happens, THE USA exports to Europe will CLIMB 25% and will further damage an already shaky USA economy. Europe on the other hand does not want a higher Euro for the same reason the US doesn't, as they need to sell goods also. And this is the crux of the Currency Wars. There just isn't enough private consumption to further economies and the only way out of the debt problem is to have a vibrant economy.

    Euro Hourly Price Chart Rally from the January lows with short term channel lines

     

    For the technician's out there, how about this for a major bottom Head and Shoulder inverted formation? The results on the chart above certainly has been on a tear since Jan 16th.

    Euro Weekly Price Chart with Support and Resistance Channel lines

     

    Buttonwood Turn Dates
    The group is working on refining many aspects and is also studying if there are longer term signals that can be extracted from the data they use. Buttonwood dates usually emit a trend change---or an acceleration in price. As in all timing indicators---there is no holy grail.

    Want to receive Buttonwood email? Send request with Buttonwood Subscribe in subject line to info@goldtrends.net.

    Printed 36 hours before the correction low---the GLD chart shows a Weekly/LT Cluster Buster turn date---and it was right at the correction low so far in gold.

    GLD Daily Chart With Cycle Turns

     

  • 27 Jan 2012 12:00 AM | Bill Downey (Administrator)

    What could fuel a commodity, Gold and Silver and Global revival in 2012? The Fed's come out and tell us its free money for the banks out into 2014. So now what?

    Most likely the other players are going to follow through. This is their chance to reflate and try to ge the global economy going again with a follow thru from the Fed. And who else but China to now make an announcement of their own. it would perfect timing from a global economic standpoint.  Wait till you see the chart below.

    Consider this.  With China coming back on Monday, there could be a very big market rally there, as it is one of the lessor perfoming markets for 2011. China has already in in motion to loosen Monetary policy, and with the biggest migration of people from rural to city in the history of mankind, China needs to continue to lead in its economic boom as it replaces the USA as the engine of the world. (For those wondering, the USA is arriving at the end of the tail pipe---the exhaust).

    The transformation into world leader is ALWAYS that of the one who has the economic manufacturing engine and its more than likely that this time will be no different. They are already in full process of obtaining the mineral rights required to transform their nation on a global basis and they are holding all the marbles at the moment. They are forging deals with nations to remove the US Dollar from trading. In other words, if everything works out ok, China is on the way of taking a major role in the transfer of the world currency away from the US dollar. I won't go as far to say (at the moment) that the Yuan will be the reserve currency, but at a minimum, it will play a major role and be a major percentage of the new coming World Reserve Basket Currency, and for now, I'll call that the SDR (Special Drawing rights) that was created but never used when the USA went off the Gold standard.

    The chart of China below is suggesting a major cycle bottom has a high degree of developing at this point in time. We say this point in time because, as you can see, the chart below is at a MAJOR CYCLE POINT in time. What better time for China to announce stimulus of their own as they make their way into transforming their nation into its own Product Demand economy. The chart has done everything to suggest it is setting up for a major rally. It has broken the down trend line just enough to get the technician's and the hedge funds to abandon or get stopped out of their positions just at a time when PRICE IS AT THE MAJOR CYCLE TURN POINT and the Gann Arc's and wedge lines have come to form a major convergence with time and price.

    Here's the point if the chart below is correct in signaling a major cycle bottom for China. That also means that a strong commodity rally should tag along. I have a strong suspicion that China is about to come out of this holiday with a major surge. IF PRICE MOVES ABOVE THE DOWNTREND LINE AND BACK ABOVE THE WHITE CHANNEL LINE, odds will strongly favor not only a short term rally, but a potential major bottom in it's stock market. Yes, I know the reports out there of how they are the biggest bubble of all and their economy is going to meltdown as well. By the looks of this chart, The bubble has already been deflated and if anything it reminds me of the NASDAQ's major bottom.

    The chart suggests that a reversal may well be at hand, and while the world can end tomorrow for a number of reasons, the odds of any of those reasons being in play is very very small. In other words, if you've been waiting to put a bit of money to work in China, I don't see a better time. Now, if you believe the whole world is going to meltdown, then I can understand your reluctance. BUT THE RETURNS from here for China will be huge if the REFLATION exercise and the China Migration into the cities is successful. While no one knows the future, China looks like a buy here. If it is, commodities should catch a bid. Nothing in speculation and investing is guaranteed. But without some risk, there is no reward. A small long term investment in China right now seems like an excellent long term entry point for those with an outlook to the future of China. IF CHINA RALLIES FROM HERE, I SUSPECT COMMODITIES will follow along with the winter seasonal bounce that is due.

    China Stock Market Weekly Price Chart with Support and Resistance Lines 

     

    Gold
    The Gold Market had a terrific move on Wednesday as the Fed announced a loose monetary policy. While that was certainly the catalyst, the price move was exactly at the 34 week moving average. Look how well this average has served the medium term moves since the 2008 low. Since its such an important magnet to price, it is the best indicator you can use to gauge the overall trends. Look how well it compliments our Green momentum channel, which by the way, has once again provided a major low point in price with a direct hit on last months low.

    Gold Weekly Price Chart 2008 Price Pattern vs 2011 

     

    Silver
    Silver ETF SLV
    Silver continues to move off the lows. The MAJOR event here is since SLV only trades in New York, look how the low of Dc 29th was a new LOW as the September drop LOW was not during New York market hours. The December test made a new low on the charts with significance and completed a six wave liquidity low. Although there still is a small potential for one push lower to that lower line, it doesn't matter for longer term investors, but only for traders. We took advantage of the last drop and added at 27.40 for accumulation and 28.63 for a trade. (We sold the trade at 32.29). Price favors that the lows have been made in Silver. If we follow historical norms, 2012 should be a wide trading range, but overall a consolidation.

    Silver Using SLV ETF 2008 Price Pattern vs 2011

     

    HUI Gold Stock Index
    The HUI Gold index has been in a massive choppy and overlapping pattern all year. The "intermediate term" moving average trend has given a buy signal for a trade as the bullish bule average has moved above the red. As you can see by the chart, this indicator has a good track record even in a chop to ascertain the "trend"---We just got the signal so any pullback to teh 513-520 area is a consideration for a short term long.

    HUI Gold Stock Index Price Chart with Support Line

     

    The US Stock Market
    Price continues to rise inside an new upleg for stocks. An intrim peak is approaching but is not quite here yet. The trends on our moving averages remain up.

    S&P 500 ETF SPY Moving Average Trend Price Chart

     

    US Dollar
    The US dollar remains in an intermediate up trend but is at a potential point of failure inside a wedge. The white line is a long term channe line so this area is important. Price for the time in a month has dropped below the moving averages, and is throwing up a RED FLAG warning that the "Trend" is being challenged. Seasonally, the Dollar usually tops in January, so that plays as well. There's a huge short crowd in the EURO too---and the potential for the EURO to rally is a strong consideration as well.

    US Dollar Daily Price Chart with Wedge Formation

     

    EURO
    The EURO has reached a long term support line. Telling is how price dropped below it just enough to trigger the stops and have the technicians go bearish. But as we've said many times, its not the break of the channel that is important, its what price does right after that. With the entire market on the short side, its not going to take a lot to get them covering their leveraged positions. Price is already at the moving averages and while the trend is still down, we favor a rally attempt here. Note how the 2011 January low was right in this zone. This is most likely the range that the central banks are supporting on the downside. Barring a major default, the Euro could surprise everyone and begin an upturn that could last into the March/April timeframe.

    For the technicians out there, how about this for a major bottom Head and Shoulder inverted formation.

    EURO Weekly Price Chart

  • 26 Jan 2012 1:55 AM | Bill Downey (Administrator)

    Gold (using ETF) GLD - Moving Average Trend - Bullish
    A short term view of gold using the ETF (GLD). Since GLD only trades in New York, it gives us a different price pattern. The blue and red lines are the moving averages we use to gauge the Intermediate term trend. As you can see it does a good job of identifying a trend that is longer than short term, but shorter than medium term. Its a good tool for swing traders. The trend turned back up on Jan 12th at 159.66
    When ever the Blue moving average is above the red average and price is above both averages, the trend is up. When the red average is above the blue and price is below both, the trend is down. Price is at a very important resistance area. A close above the White resistance line will favor a move to the Green Channel line.

    Gold Moving Average Trend


    Silver
    Silver ETF SLV
    Silver prices broke sharply higher on Wednesday. The silver ETF (SLV) price has pushed back inside the huge wedge pattern from 2011. The test now will be for silver to hold the lower dotted trend line. Support is the moving averages. As long as the blue line moving average is above the red and price is above both, the trend is up.

    Silver Moving Average Trend


    HUI Gold Stock Index
    The HUI gold index has been in a massive choppy and overlapping pattern all year but somehow has managed to stay above the bull/bear line for all of 2011. As long as price is above 480 on the HUI the trend remains neutral. A close above the 540 area on Friday will keep this bounce going.

    HUI Daily Price Chart


    The US Stock Market
    Price is at a major resistance area and that is what the street is watching. That dotted trend line. However we show resistance just above that in the old rally channel from the 2009 lows. A break above that line and the market trend will remain up on the short term.

    SPY Moving Average Trend

  • 20 Jan 2012 12:00 AM | Bill Downey (Administrator)

    Gold
    Gold has run into some important resistance at the 1670 area where the dotted up and downtrend lines reside. It takes a push above here to favor higher. There is additional resistance at the middle green channel line. Price is also at the daily moving averages so its a short term make or break area. Its also important longer term as next week is the Chinese new year. In 2010 and 2011, gold made its' lows right at the week of the Chinese New Year and never looked back. However, 2008 and the last liquidity crisis found gold peaking in February and pulling back in March. Regardless, the one constant is whether gold will be able to move above this 1670 area in the next few days. A failure at this area next week would favor a pullback into the first week of February. The long term trend is still up, but the medium term has been in a correction that reached 20% of price value. Its going to take a close above the middle green trend line to categorize the medium term as uptrending.

    Gold Weekly Price Chart with Channel Line Support and Resistance

    Silver
    It's the same with silver. It's at its moving averages and just below some key resistance lines. If price gets above the moving averages and the 31 dollar area, a move to the 32-34 area would be in play. Next week will be the key test for the metals. The latest reports from the US Mint show silver coin demand exploded since price reached the 26 dollar area. Our call in May for a 6 to 12 month correction is now in its 9th month. The 26 dollar is very important as it was the lowest price in 2011 and as you can see by the chart, this is now the 3rd major test of this line.

    The members area has a lot more data on what we should be expecting for silver as the 2012 forecast was posted on the silver button last week.

    Silver Daily Price Chart with Trend Line Support and Resistance

     

    HUI Gold Stock Index
    The HUI gold index has been in a massive choppy and overlapping pattern all year. This is now the 5th time we hold the 480 area in the HUI. This area is the line in the sand and we've been using the 480-520 area for quite a while. A break below this area would warn of a test into the 400-420 area.

    The medium term trend remains neutral, and yet another bounce attempt is underway. Thursday's two percent drop puts the situation back on guard. While we can't rule out a price drop, the gold stocks have a tendency to bottom in the July/August area most often. However, there is a dip that usually happens this time of year as many of the higher lattitude gold mines close for the winter. What we usually see is a buy point gets set up in the January timeframe and then a rally takes place into April/May. From there the pullback to the July/August lows repeat. While this is not a time to sell, there are a lot of stops below 480 and it would not surprise me if they are going to try and attack that line to trip off the stops that are below there. And since it's such a well defined support area, there will be lot of stops below 480. After five major tests of this line, it won't take much more to have the longs throw in the towel.

    HUI Gold Stock Index Daily Price Chart with Support and Resistance 

     

    The US Stock Market
    The stock market is at major resistance and looks like it's ready to make a run at the 135 area with just a few more strong up days. Earnings are the leading catalyst. With the stock market moving up to this area the medium term trend is neutral but has not turned bullish. However, if the blue moving average moves above the red, and price is above both, any break into the higher channel will suggest the rally will continue.

    SPY Weekly Price Chart with Channel Line Support and Resistance

     

    US Dollar
    The US dollar remains in an intermediate up trend but is at it's first long term resistance point. Price has stretched to the outer boundary of this line and this is where the decision in the USD and the Euro are coming into play. The chart shows there's still the potential that a continued liquidity crisis could foster a panic into the dollar that could lead to the long term bull/bear zone. This type of move however will require a panic. Otherwise, the Fed is going to to everything it can to weaken its' value.

    Weekly Dollar Index with Long Term Channel Lines 

     

    The EURO
    The EUROhas reached a long term support line. Telling is how price dropped below it just enough to trigger the stops and have the technicians go bearish. But as we've said many times, it's not the break of the channel that is important, it's what price does right after that. With the entire market on the short side, it's not going to take a lot to get them covering their leveraged positions. Price is already at the moving averages and while the trend is still down, we favor a rally attempt here. Note how the 2011 January low was right in this zone. This is most likely the range that the central banks are supporting on the downside. Barring a major default, the Euro could surprise everyone and begin an upturn that could last into the March/April timeframe.
    By holding euros today, you are betting that you are in fact holding a new form of
    deutschmark!

    EURO Daily Price Chart with Support and Resistance Lines

     

    Buttonwood Turn Dates
    As you can see, three of the last four LT II Dates have marked the longer term trading range boundaries. Also, the descending wedge formation is nearly ideal on this chart. These formations are considered bullish when price nears the apex of the two trend lines and breaks upward. The next LT II Date will occur between March 28 and April 4. My guess is that a PM top will occur a week or two prior to that date, but that is pure speculation at this time.

    AGQ Daily Price CChart with Cycle Turn Dates

     

  • 14 Jan 2012 3:03 PM | Bill Downey (Administrator)

    The long term bull market in gold has been and is undergoing a long term correction. As you can see by the chart below, gold completed a 144 month Fibonacci bull market wave. The last 34 Fibonacci months was from the crash of 2008 to the peak last August. This correction is in line with long term price waves. The correction should last longer from a time perspective. Candidates range from 3,5,8 and 13 months. Our current outlook is for March/April to be the favored time range for a 2012 turn point. It is the favored but from a long term perspective, a more reasonable expectation would be for an event that took place during year 6 (the half way point of this current wave.) There we say a high in May of 2006 and began a sideways correction that took almost 17 months (1/2 of 34 months) to complete but then only two months to make an all time new high when the move began. Thus it is possible that this pullback will take longer than most of us think. I'm reading a book called the Spiral Calander that reader Dave G sent me. So there's moore to come once I finish reading it.

    Finally, the middle Gann line and the adaptive moving average at 1544 just happen to be where the 23% retrace number resides and all three have met up for a test of the long term. Thus this area is a very important test of the long term. One that we have to keep an eye on as to where the January Low ends up listing. So far the 1564 print open of 2012 is the low. Watch the 1500-1530 area as it is a very long term support area that is important. (Overlay by www.gunner24.com.)

    Gold Monthly Price Chart Long Term Price Supports

    The Two Main Channels of Silver
    Long Term Main Channel---Buy Zone 17.29 - 22.00 and 24.26 - 29.16

    The main channel of silver is rising $4 dollars per year. It is the Long Term Uptrend for the 21st Century Silver Bull Market. This channel has two major price supports of 17 - 24 and 24 - 29 dollars. This is where long term buyers should focus on.

    The lowest long term support line and the 78% Fibonacci retrace line target at 17.29 and that is the lowest price allowed on a long term basis to technically say that silver is in a long term bull market. The line itself runs at the 21-22 dollar area and climbs to about 25 buy the end of 2012. The original price explosion breakout line at 21.50 is the other important long term price point. If silver moves to the lower green price line on the chart, it should be considered a MAJOR buy point and one should allocate accordingly. For those looking for $100 dollar silver, the Main Channel is your pivot point. As long as price is in the Main Channel, there run to triple digit silver is on hold.

    Momentum Channel
    The Momentum Channel represents as Bix Weir would put it, the road to Roota, which is in essence, the road to 100 dollars and higher. The crash of silver out of the momentum channel has drawn silver back to important long term price lines. The double bottom at 26 is important as it is the same price as we entered 2011 and is the Elliot Wave's 4th wave of a lessor degree. ( A very important support area for bull market pullbacks.) In order for the Superbull to be back in motion, price needs to get back in the momentum channel. The main channel is the only alternative and its only growing at 4 dollars per year. It takes a monthly close back above 40 dollars for silver to be considered back in its explosion up.

    If you've been waiting to take a long term position in silver and have no inventory,  this is a place that you'd want to take an initial POSITION. Even long term buyers should be considering adding at this area. In order for the long term TREND to get back in SUPER UP MODE, price has to return in the momentum channel on a monthly closing basis. The medium term remains in a bear market but price is at the 2nd most important price point in the Bull Market. Physical is the new way to go and holding it in your hands. If the bull market in silver is still alive, and we think it is, then these two price area's is the place to be accumulating.

    Silver Weekly Price Chart with Long Term Support Price

    HUI Gold Stock Index
    The HUI gold index has been in a massive choppy and overlapping pattern all year. This is now the 5th time we hold the 480 area in the HUI. This area is the line in the sand area we've watched for a full year. A break below this area would warn of a test into the 400 area. The medium term trend remains neutral and yet another bounce attempt is underway. As long as we're above the 480 area on the HUI, the trend has not GIVEN way to the downside.

    HUI Weekly Price Chart with Support and Resistance

    The US Stock Market
    The stock market is at major resistance and is an area that need be watched carefully for a peak. Price is either at the cusp of a big breakout or it's about to reverse lower. If its higher, it will be that Earnings are" better than expected." As long as they can spin that story, they might have a chance. Price is above the 34 week moving average and if we move above this channel line, we'll look for a rally into the end of January. If price is to turn down, this coming week is the odds favorite.

    SPY Weekly Price Chart with Long Term Channels

    US Dollar
    The US Dollar remains in an intermediate up trend but is at its first long term resistance point. However real resistance looks more to be in the 83.50 to 86 area. For now, the trend is up but its main driver is scared money finding a short term hiding place. The best example we can give of the dollars future is the news that China and Japan agreed to not use the USD in trade between both nations and that Japan will be buying Chinese bonds. I cannot recall a bigger slap in the face for USA in a while. But on the other hand, the USA has been slapped so much lately that most are 'punch drunk.' The trend remains up but as this long term chart shows, it a long road ahead. The stronger seasonal for the dollar usually ends in January. However, the continued money flow out of Europe continues to benefit the US Dollar. The convergence of the arc, and the red and blue dotted trend lines at 85-86 should be a difficult point to overcome. It's certainly a major resistance area. The trend is still up, but the only thing that could ever spark a rally in the dollar would be a panic for cash. Otherwise, all other fundamental's are pointing to a reserve currency that is in trouble long term.
    From a technical standpoint, as long as price is above the lower red dotted trendline, the intermediate and medium term trend is up, but it's just a bounce in a long term downtrend.

    US Dollar Monthly Price Chart with Gann Support and Resistance

    The EURO
    The EURO has been the center of attention and the media is filled with how much it has dropped. But they are looking with short term goggles on and not a longer term telescope. In fact the Euro is still trading just as high as was the case 20 years ago. However, the real trade did not begin until near the turn of the century. The point is the Euro for all its problems is no lower than in 2008. This does not mean that it is strong however, but that it is keeping in lockstep with the devaluation that is occuring in the US Dollar. Thus the waves we are seeing is nothing more than the Dollar and the Euro taking turns printing and bailing out all the debt that is defaulting. Banks might be too big to fail,  but nations are going to be to big to BAIL. Support is the 118 to 120 area. As long as price is above that area, the trend on a long term basis has not turned down against the dollar.

    By holding Euros today, you are betting that you are in fact holding a new form of deutschmark!

    EURO Monthly Price Chart with Gann Support and Resistance

    Buttonwood Turn Dates (BELOW)
    The group is working on refining many aspects and is also studying if there are longer term signals that can be extracted from the data they use. Buttonwood dates usually emit a trend change, or an acceleration in price. As in all timing indicators, there is no holy grail.

    The Forecasted Buttonwood date for a DEC 15th low was RIGHT ON THE DAY.  The next short term trend was the 28th and 29th which produced the low we just saw and now we have arrived at the next key date, Jan 4th. So far, that was the high on this bounce. The next turn date is Jan 12-13th time frame. If we exceed last weeks high on a closing basis, it will suggest higher to the next date, otherwise with stochastic's near a turn the potential that this was the peak and we're heading down to this next date (end of this coming week). A close below that last hammer bar on this price chart would favor the move down to the 12th is in play.

    Buttonwood GDXJ Timer Daily Cycles

     

     

  • 12 Jan 2012 9:03 PM | Bill Downey (Administrator)

    The long term bull market in gold has been and is undergoing a long term correction. As you can see by the chart below, gold completed a 144 month Fibonacci bull market wave. The last 34 Fibonacci months was from the crash of 2008 to the peak last August. This correction is in line with long term price waves. The correction should last longer from a time perspective. Candidates range from 3,5,8 and 13 months. Our current outlook is for March/April to be the favored time range for a 2012 turn point. It is the favored but from a long term perspective, a more reasonable expectation would be for an event that took place during year 6  the half way point of this current wave.) There we say a high in May of 2006 and began a sideways correction that took almost 17 months (1/2 of 34 months) to complete but then only two months to make an all time new high when the move began. Thus it is possible that this pullback will take longer than most of us think. I'm reading a book called the Spiral Calander that reader Dave G sent me. So there's moore to come once I finish reading it.

    Finally, the middle Gann line and the adaptive moving average at 1544 just happen to be where the 23% retrace number resides and all three have met up for a test of the long term. Thus this area is a very important test of the long term. One that we have to keep an eye on as to where the January Low ends up listing. So far the 1564 print open of 2012 is the low. Watch the 1500-1530 area as it is a very long term support area that is important. (Overlay by www.gunner24.com)

    Gold Monthly Price Chart with Long Term Support Price

    A zoom in closer on the weekly chart shows a 26 week cycle at play. All year we've advocated that a liquidity squeeze would resemble 2008 and that would be the only fundamental that could bring us a correction in 2011. Note how the action is playing out almost exactly as in 2008. If we are following this time line the final low is not yet complete. The February timeframe is when the next cycle is due. A mid February high will suggest a March/April low. It doesn't have to be lower then the December low, but should still set up the Spring buy point.

    Gold Weekly Price Chart with Long Term Channels

    Long term = Up / Medium Term = Neutral to down / Intermediate term= down / Short term=Neutral

    Silver is attempting to bounce back to 30 dollars ad is arriving at the moving averages. Resistance is the BLUE channel line.

    Silver Daily Price Chart with Moving Averages

     

    Hui Gold Stock Index
    The HUI gold index has been in a massive choppy and overlapping pattern all year. This is now the 5th time we hold the 480 area in the HUI. This area is the line in the sand area we've watched for a full year. A break below this area would warn of a test into the 400 area. The medium term trend remains neutral and yet another bounce attempt is underway. As long as we're above the 480 area on the HUI, the trend has not GIVEN way to the downside.

    HUI Daily Price Chart 

     

    The US Stock Market
    The stock market is nearing major resistance and is an area that need be watched carefully for a peak. The first few days of January should provide a rally but after that we need to be on guard. If price can hurdle this area, we'll reconsider.

    SPY Daily Price Chart with Moving Averages

     

    US Dollar
    The US dollar remains in an intermediate up trend and is trying to improve its bullish status from weekly to Monthly. This 80-83 area will be a major turn point in 2012 which decides whether we move to the 90 area or turn back down. The trend remains up but price is at YEARLY RESISTANCE at it's challenging the 2010 highs. A new yearly HIGH above the last would be the first one I remember for a while. It's certainly a long term price point as the long term red and blue moving averages have finally come back together and are drifting sideways. This is happening at a time when PRICE IS ALSO right at the moving averages at at the EDGE OF THE LONG TERM downtrend channel line. It's the most important PIVOT spot for price in the last five years. Manipulated or not, the US Dollar made is all time low some 37 months ago and the LONG TERM TREND is ready to go from BEARISH to NEUTRAL. It might not sound like much, but it's opening the door for a rally to a minimum of 87 and up to 92 on the INDEX. If that happens, it suggests that the liquidity crunch will get much more SEVERE and bring on danger levels to the global financial centers as world money flows head for the biggest liquid market.

    Dollar Price Chart with Lon gTerm Channel


    The EURO remains in a downtrend and is at a long term lower support line. The medium term trend remains down. Price still needs to take out these area's of LINE support. More interesting is there is a long term INVERTED HEAD AND SHOULDER pattern that has formed. What on earth could provide support to the EURO in this area? By holding euros today, you are betting that you are in fact holding a new form of deutschmark!

    Euro Weekly Price Chart with Channels

     

    Buttonwood Turn Dates

    The group is working on refining many aspects and is also studying if there are longer term signals that can be extracted from the data they use. Buttonwood dates usually emit a trend change, or an acceleration in price. As in all timing indicators, there is no holy grail.

    Want to receive Buttonwood e-mail? Email info@goldtrends.net with the Subject "Subscribe to Buttonwoods".

    To read more of our Buttonwood's update, click the new button in menu (left).  All welcome.  You'll find more charts too.

    The Forecasted Buttonwood date for a DEC 15th low was RIGHT ON THE DAY.  The next short term trend was the 28th and 29th which produced the low we just saw and now we have arrived at the next key date, Jan 4th. So far that was the high on this bounce. The next turn date is Jan 12-13th time frame. If we exceed last weeks' high on a closing basis, it will suggest higher to the next date. Otherwise, with stochastic's near a turn, the potential is that this was the peak and we're heading down to this next date (end of this coming week). A close below that last hammer bar on this price chart would favor the move down to the 12th is in play.

    Buttonwood Daily Cycle Timer

    January 1 2012 ~ SEASONAL UPDATE
    The longer term seasonals show that the February area is a great place for a first quarter top and that is what we will favor. We'll look for a pullback into the week of Jan 9th and then a push up into the 3rd week of January and then a pullback near month end. If price makes a high near Jan 9th, then we'll look for a pullback instead to the third week of January.

    http://www.mrci.com/web/index.php  (chart below Moore Research)

    Seasonal Price Chart


Technical Analysis :: Gold & Silver

Copyright  2008 - 2015  Gold Trends.net, LLC               Email: info@goldtrends.net

Powered by Wild Apricot Membership Software