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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  • 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

  • 08 Jan 2012 5:28 PM | Bill Downey (Administrator)

    Gold Trend
    Long = up / Medium term = neutral  / Intermediate term = Down / Short term = neutral

    Let's start with Gold and the long term chart analysis; what it tells us about the three time frames; long, medium, and intermediate term.

    We are always being bombarded with analysis that says "long term, medium term, short term," these being the three time frames most followed. There is a fourth intermediate term that appears on the weekly charts. Short term is best left to daily charts. If you don't know what time frame you're in, how do you know when to buy long term?  Or short term? If you're a long term investor and you're not buying at the low end of the long term range, you're probably paying too much for your purchase. Put it this way, you're not getting it where the most likely low price point is going to occur. It is paramount to success that you know what time frame price is reflecting, and more important, to know what time frame your investment style best suits you. The reason you might not be doing as well as you should is that your trading in the wrong time frame resulting in entry's in the market that are not optimal. Read on, here's what we mean.

    This will give you a good overview of how we separate long, medium and intermediate term price action.

    One of the biggest reasons we as investors can't see the forest for the tree's is that price is active on about five or six different time frames and we are forever getting them mixed up or not considered them when we invest.

    A great example we can give so you might understand is this. See if that rings a bell, recalling a trade like this.  When you buy a stock or a futures contract due to your convictions for a long or medium term move you buy it with a plan to hold it for a while.

    Has this ever happened to you?

    You find yourself within a week (sometimes only one day LOL) of having bought a long term position, that you're already selling and closing the trade. Your purchase was either too big or too leveraged or you're not really a long term investor (long term investors don't sell out in a week). You weren't really wearing your long term "view" when you made the purchase. If you did, you used short term parameters to exit. There is no other reason for selling out the position so soon. Right ? The only one we can think of that would be valid is an emergency happens and you needed the money and had no choice but to liquidate. You must know the price ranges that separate the long, medium and intermediate term zones. Only then can you really invest where long term price ranges exist. Here's what we mean.

    The chart below is divided into three channel's of price. Each channel gives a price range deviation that measures the total range of price combined with velocity (momentum or slope of the price advance). Thus we have the long, medium and intermediate term trends.

    The Red Channel line is a Long Term Channel from 1993 and is the smallest long term channel but the one that provides the price action we are most concerned with. Though you can't see the beginning of the line, it is measured from an important price cross. It's validity was confirmed during 2009 and most of 2010. There you see how price spent almost a full year trading at or just below that long term Red Line. It's validity is further strengthened buy the big move up once price broke above that channel.

    The next channel on the chart is the Main Channel. This channel line is taken from 2001/2002 lows and covers this new 21st century gold bull market's original price range and momentum for the first 8 years of the bull market. At the end of 2010 and 2011 price broke above the main channel line and toyed with the red channel line for a year. Note how the EXACT BREAKOUT IN PRICE was when the third Time frame (intermediate) lower green line met with the main channel line, and both of those met up with the long term red line. This at the SAME POINT TIME that price was there also. This is where PRICE AND TIME meet. The result was a long term BREAKOUT of significant force. On this chart we call this final time frame the MOMENTUM channel instead of intermediate. Due to its time length, its actually now a medium term channel.

    Gold Weekly Price Chart with Long and Medium Term Channels, Support Lines, Buy Zones & Moving Avgs

    Finally, we get to the points made from the chart. First, is that the lower green channel line or the Upper red channel line are the two most likely targets for a 2012 low. We've had the buy signal on medium and long term accumulation from 1448-1552 on our weekly button for a few weeks. Thus either this lower green channel line holds and we have the low for the year in place, or price has got one more leg down in the 1350 area---plus or minus 50 dollar area.

    If you're a long term investor, your best plan to buy at both price area's. Question---those who have told you where the low was and to buy.  Have they been correct so far? If yes, stick with them. If no, that's because no one knows where THE LOW will be. IF NO ONE KNOWS where the real low will be, then the BEST THING is knowing where the CLOSEST TWO AREA'S OF LONG TERM SUPPORT RESIDES and THAT is where to buy in 2012. If the latter and lowest price doesn't come in, and the green channel holds and ends this correction - you at least have the current purchase at the lows and any move up from here will be profitable. If price does have a move to the red channel line, that is where the second position of the year should be put on. The importance of these price parameters are important for one reason. THEY ARE NOT BIASED. While a human still has to draw the lines, it is drawn from points that PRICE makes. It is the least arbitrary non-biased data that we have to make price projections. And if we think about it, what else could be better than price itself? The channel lines on this chart are the same one's we were using two years ago.

    There's lots more on things like this in the member buttons, but in summary, we've been saying since we hit the lower green line, we're at one of two places where the odds are the highest for a yearly price low. Investors should act accordingly and that is to buy a bit near the price area we suggested (a few weeks ago on the member pages) and buy just enough that you can still sleep at night. If you're already in trouble in your average price from buying at the upper levels of the green channel line, give our subscription a try. From the chart below, you'll have a good perspective of where the important price points are going forward.

    Epilogue:
    The same chart is printed again below so you can see as you read. The lower green channel line (first target) or the upper red channel line are the two most likely targets for a 2012 low. The lower green channel line is the lowest intermediate and medium term PRICE range. As long as we remain above the lower green channel (with a 50 dollar allowance for price stops) this momentum channel remains in effect. Purchases as an investor should be bought at this lower green line. But it should only be done with the notion that price can still test the long term red 1993 line on the chart if we get a break from the lower green channel line. The fundamental would be the "liquidity crisis" and we've already witnessed in 2008 what that did to price. Although many said "it won't happen this time, price won't go down, it did go down. We've been in the gold can go down on a liquidity squeeze, and all of our past reports on the member buttons show that we've had that conclusion for a while that if could bring gold down.

    And why the lower green channel line so important for support? Because the market has shown us for three years, it has held every price test of that area. It is the current "momentum slope" But we say buy with the notion that we are going to test the long term red line for two reasons. First, after three years of price testing, the chance of a break of this channel line has grown. The liquidity crunch is the only thing that could possibly bring the price down, at least that was our forecast since the beginning of 2011 (not after last September).

    Gold Weekly Price Chart with Long and Medium Term Channel with support, buy zone and moving average

    We have the buy signal on medium and long term accumulation from 1448-1552. Thus either this lower green channel line holds and we have the low for the year in place, or price has got one more leg down in the 1350 area, plus or minus 50 dollars where the long term Red Channel line resides. If you're a long term investor, your best plan to buy at both price area's. If the latter doesn't come in, you at least have the current purchase and could very well be the low for this correction. There's lots more on memeber sights, but in summary, and as we've been saying since we hit the lower green line and we're at one of two places where the odds are the highest for a yearly price low. If the GLOBAL liquidity crisis escalates out of Europe, then the potential for gold to have one leg lower to the 1993 line will come in play. It would be there another long term buy point could be considered.

    Short Term Price Trends and the Gold ETF (GLD)
    For those who follow GLD, the Gold ETF (below)--- last weeks low was a direct hit off a long term support line. The bounce back up has come to the moving averages and the 159-161 area should be resistance on Thursday. The chart doesn't show the Friday Action, but gold's resistance remained at the moving averages. Now comes next week. With a short term CYCLE turn due next week, we find out if the trend is ready to favor moving up, or we get resisted at these averages and turn back down. This is not a cop out, but rather we're telling you this is the point in price (resistance) for the short term and that whatever way price breaks from here next week, favors that trend to move in the same direction into the latter portion of January. The time for a cycle turn (not shown) is is this coming week. From the 9th through the 13th of January is when the next time point is due. So next week should set the pace and develop the next short term move into the 23rd of January.

    Notice how our moving averages have done an excellent job all year providing us the "TREND" of the market on an intermediate time frame. If there is one indicator you're looking for that provides the "trend" this indicator is excellent. Whenever the red line is above the blue line and price is below both averages, the intermediate term trend is "BEARISH" Whenever the blue 34 BAR BLUE moving average is above the RED 13 bar moving average and price is above both average lines, the trend is up. A note about the indicators. The blue average is a 34 bar or 136 hour moving average. The advantage in using GLD is that its the NEW YORK Session price only, where the highest volume in the gold market occurs. It makes the price patterns much more interesting to me. But there's even more to learn from this chart. Much more.

    Gold Moving Average Trend

    It suggests that there has been a shift, at least for the moment, where price is becoming much more important outside the USA sessions and the moves have gotten bigger. That will make it harder on the ETF traders of GLD and SLV. But it also could very well be that the "control boyz" have expanded their territory.

    The chart shows (above and below chart the same so you can see and read) price gaps where trade occurs in the rest of the globe and not of New York influence. Notice on the way up on the final big move how gold began to have price gaps as soon as price moved above the middle green channel line. What was a new all time high in price. Since that point, price gaps began to appear on the charts. we can count 13 of them as opposed to just one.

    And what and why is that important and what does it tell us ? A lot. There's a lot more than meets the eye.

    First and foremost, it tells us that GOLD is no longer CONTROLLED by just the New York Market but that GOLD has gone Global. As new markets for gold open in China and Hong Kong and other Asian and oversea's market, they become a driving force with "influence" on price and that gold has TOTALLY become a "GLOBAL 24 hour Market." And that means those markets are going to have more influence as we move forward. Not that the "control boyz" won't be participating there, but simply that interest is global now as is influence. Many people look forward to this new MARKET in Asia to finally put an end to USA control of "manipulated" price. And it sounds reasonable. That is if you think the "control boyz" are NOT BEHIND the new exchanges. Do you own Google searches, but some of the names we saw aren't exactly choir boys. Since the PEAK there has been five price GAPS down and two, or maybe three, depending on how you measure them. (we didn't use some of the tiny ones). It suggests that there has been a shift, at least for the moment, where price is becoming much more important outside the USA sessions and the moves have gotten bigger. That will make it harder on the ETF traders of GLD and SLV. But it also could very well be that the "control boyz" have expanded their territory.

    Gaps also tell us when a MAJOR move has gotten out of control and usually signals to be on watch for a peak.

     

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

    Silver and the 21st Century Bull Market
    Today's look at silver uses SLV---the Silver ETF. A major low might be in the making, but as you can see, this has been a major crash and a three dollar move in silver---10%---still leaves a long way to go. NO TRENDS have yet turned up. This so far is just a bounce. It has the chance of being a key low, but how many times have you heard that in the last 8 months that the low is in. Not one from here. We're not ready to say it, but we're watching this one carefully. There was major US MINT sales to open the year --- levels that have not been seen before. That should be enough to keep this bounce going. Watch the ADP on Thursday and the Non-Farm Payroll on Friday. If those are bullish, silver can get a nice move up here.

    Silver Moving Average Trend

     

    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 with Channel lines and Bull/Bear Zone

     

    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 Channels and Bull/Bear zone

     

    US Dollar
    The US Dollar remains in an intermediate uptrend 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 we 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.

    US Dollar monthly Price Chart with Channels and Bull/Bear zone

     

    The Euro
    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 Euro's today, you are betting that you are in fact holding a new form of Deutschmark!

    Euro Weekly Price Chart with Channels and Moving Average

     

    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's Daily Trend Time (GDXJ)

     

    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)

    Gold 34-Year Seasonal Price Chart

     

  • 04 Jan 2012 5:20 PM | Bill Downey (Administrator)

    We are just about done our Monthly report for January with the 2012 forcast. Last year we published our 2011 forecast for gold on the chart below. The green circled area was our monthly price projection for 2011. The red circled area was the actual price for the year. we have completed the 2012 outlook and we hope to have the monthly acompleted by next week at the latest. (as a preview it calls for the 2012 low to be in March/April timeframe near the 1400 area).

    Last year's projection called for a price high of about 1840 as a high for the year and the actual was 1922. The price high did come earlier than the projection as November was the favored candidate and September was the intra day high and August was the closing monthly high. The projection called for only one correction for 2011, in mid year during July and August. The actual correction began in late August and bottomed in September. It projected a low of around 1550 as the pullback low and the September low was 1532. Finally, it did call for a lower low in December but projected a close above 1700 for the year and price came in at 1540. The original chart can be seen on the Monthly Button (January 2011)

    Gold Monthly 2011 Forecast vs Results

     

    For those who follow GLD -- the gold ETF --- last weeks low was a direct hit off off a long term support line. The bounce back up has come to the moving averages ---- and the 159-161 area should be resistance on Thursday ---- the ADP report in the morning should set the Pace for Gold and equities.

    GLD Gold ETF price chart with moving averages and channel lines

     

    Silver and the 21st Century Bull Market

    Tonight's look at silver uses SLV --- the silver ETF. A major low might be in the making, but as you can see, this has been a major crash and a three dollar move in silver --- 10% ---- still leaves a long way to go. NO TRENDS HAVE yet turned up. This so far is just a bounce. It has the chance of being a key low --- but how many times have you heard that in the last 8 months ... that the low is in. Not one from here. I'm not ready to say it ------ but i'm watching this one carefully. There was major US MINT sales to open the year ----levels that have not been seen before. That should be enough to keep this bounce going. Watch the ADP on Thursday and the Non-Farm Payroll on Friday. If those are bullish -- silver can get a nice move up here.

    SLV Silver ETF Price Chart with moving averages and channel lines

     

    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 Gold Index Price Chart with moving averages and channel lines

     

    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 Price Chart with daily moving averages and trend lines

     

    US Dollar

    The US dollar remains in an uptrend and is trying to give a long term buy signal. This 80-83 area will be a major turn point in 2012

    US Dollar Monthly Price Chart with Long Term Channel Lines

     

    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 Trend 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.

    To be on the Buttonwood e-mail and distribution list write to goldtrends@gmail.com PLEASE WRITE SUBSCRIBE in the SUBJECT LINE ON YOUR E-MAIL. Thank you !!!

    GDXJ Daily Buttonwood Turn Dates

     

    January 4 2011 -- 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 pullbac 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)

    Gold Seasonal Price Chart 34 Year

    If you'd like a free trial to the web site, send me an email at goldtrends@gmail.com

    THE Long Term Silver Chart -- Moore Research

    Silver Monthly Price Chart Long Term 1972 to 2012

  • 27 Dec 2011 11:56 AM | Bill Downey (Administrator)

    Gold is got back as high as the 34 week blue moving average last week but then fell victim to a sell off back to 1600. So far this week, gold has now pulled back to 1590. With short term cycles due to bottom on Tuesday, any new lows after Wednesday would have to favor lower prices. UNLESS gold can get back above 1618 on a closing basis the potential to trade lower can't be eliminated. A new low on Wednesday would begin to favor the downside. With low trading volumes and lots of traders on holiday, its a perfect time for the shorts to try and lower price. Remain cautious.

    Gold Weekly Price Chart with Channels

     

    Silver

    The weekly chart below shows silver in a tuff situation here. THE LONG TERM BLUE LINE ---- which stopped all price highs before 2011 since silver was 4 bucks ----- had a major breakout and a run to 50 dollars. Now a TOTAL ERASURE of the 2011 rally and silver is once again trading below this long term line. Since the break silver, has turned down hard again. Any break of last weeks low will target the next level down below 27 where the next white buy zone line resides. If short term cycles don't turn this week, a test as low as 22-24 could be witnessed by the 10th of January. A break of the 26 dollar area would add a FIFTH wave down in the silver pattern. This would open up the potential for an even longer correction of time. Since May, we've favored a 6-12 month pause in the silver uptrend. A new low below 26 would open up the potential of --- and I say potential of 18-24 months of consolidation. I know that sounds far fetched, but so did a 6-12 month pause when we mentioned it in May.

    Silver Weekly Price Chart and Channel Support and Resistance

     

    Hui Gold Stock Index


    The HUI gold index has been in a massive choppy and overlapping pattern all year. A classic high at the upper lines and lows right at the SUPPORT Bull/Bear Zone has gone on all year. This broadning top is suggesting that the peak in gold stocks is now in danger of breaking lower into 2012. This is like the 6th test of this bull/bear zone and we suspect at a minumum we're going to see a test of the 465-470 area to trip up some stops.

    Major support will be that lower dotted trend line under 420 and the lower wite near 385. A weekly close below 460-465 would be all it will probabl take. There is a lot of real estate below the 470 area.

    Hui Daily Price Chart with channels and support and resistance

     

    The US Stock market


    The stock market is completing its 11 year in a super long term correction that is in a wide trading range much like we saw from 1963 to 1982. That period lasted 19 years in a sideway trend. From 1982 to 2001 was another 19 year period where this time we saw the original top in the market. If long term history continues to play out, the stock market has another 8 years of sidways action to run through before the next major upleg begins. This current range has price arriving at a major RESISTANCE AREA at 128-130 in SPY and the 1280-1300 area in the S&P 500. This price point will most likely be the pivot of 2012. Notice how this years low was EXACTLY where the dual trendlines and the 34 month moving average meet.

    Spy (S&P500) ETF Monthly Price Chart with channels and support and resistance

     


    US Dollar


    The US dollar has gone from daily buy signals last month and is now issuing weekly buy signals. Price has penetrated one of the long term trendlines -- but its not the penetration that counts --- its what price does after that to watch for. Right now we are pulling back to the 34 day moving average and back inside the long term down channel. The trend remains up and for now this looks like a test of previous resistance to see if it is now support. The key support will be the 78-79 area and then the lower dotted line at 77. As long as we are above that area, the short term trend remains up.

    On the medium term trend price must remain above the CHANNEL LINE ON A MONTHLY CLOSING BASIS. THis week is the end of the year so the close is even more important. The 81-83 area remains the first LONG TERM PRICE ZONE that need be taken out to give serious creedence to a medium term move higher. The trend is up -- but December and January are also the strongest seasonal trends of the year. Many times hath the dollar faltered in January. The one advantage the dollar will have --- is the liquidity crisis. That could provide temporary haven --- but for how long? The US dollar is probably not that far away from having the same problem as Europe has --- a liquidity crunch.

    US Dollar Daily Price chart and channels with support and resistance

     

    Euro


    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 ?

    Euro Dollar Weekly Price Chart with Channels and Support and Resistance

     

    Buttonwood turn dates

    The Buttonwood Group is involved in forecasting cycle turn dates. Buttonwood dates usually emit a trend change -- or an acceleration in price. As in all timing indicators --- there is no holy grail.

    To be on the Buttonwood e-mail and distribution list write to goldtrends@gmail.com and request to be on the Monthly Newsletter.  Non subscribers can access this page.

    The Forecasted Buttonwood dates have provided major turn points. The next  potential trend watch is the 28th and 29th for a potential Low and trend change on a weekly and monthly time frame and could provide a key low from which we rally from.Gold ETF (GLD) Cycle Turn Dates

     

     

  • 20 Dec 2011 12:00 AM | Bill Downey (Administrator)

    Gold is arriving at a long term time and price point. The 26 week cycle is coming due in February. 2009 and 2010 provided a February low for the year. But it isn't always like that. Sometimes it produces a high. But if you'll notice, It's usually a MAJOR TURN POINT FOR THE YEAR.

     

    The break of the upper gold channel line and the lower dotted momentum channel has produced a tremendous drop. This usually the case when the long term channels are hit. The huge rally up last July was a break of the upper gold channel line to the upside and the result was huge on the upside. The same is happening now, huge to the downside. We say gold is acting normal because this is what it did in the last liquidity crunch in 2008.

    The next long term support is the 1448 area where the long term 38% retrace area resides. Additional support is the fair price line near 1500 and the adaptive average at 1552. (All prices spot gold).

     

     

    Silver

    The weekly chart below shows the six points that silver went thru during the 2008 liquidity squeeze. Point 6 is underway in the final crash leg of silver. The last crash was at the lower dotted trend line and the long term Lower Silver line. Thus the two targets for this crash would be, first, just above the 25 area where the dotted line currently resides and second, a potential move back to the peak of the last liquidity crisis in silver. That would be the red line at the 19-21 dollar area.

    SIlver Weekly Liquidity Price Chart

     

     

    HUI Gold Stock Index

    The HUI gold index has been in a massive choppy and overlapping pattern all year. A classic high at the upper lines and lows right at the SUPPORT Bull/Bear Zone has gone on all year. This broadening top is suggesting that the peak in gold stocks until after the 1st Quarter of 2012 is a growing significant scenario.

     

    Major support will be that lower dotted trend line. A break from there won't be pretty as there is a lot of real estate below the 480 area.

    Hui Daily Price Chart

     

     

    The US Stock Market

    The stock market remains locked in a choppy and overlapping price trend since the big drop began. With the moving averages rolling over and a MASSIVE HEAD AND SHOULDER PATTERN forming --- the medium term trend is turning bearish and the odds are increasing that lower prices might be in store for early 2012.

    Spy Daily Price Chart

     

     

    US Dollar

    The US dollar has gone from daily buy signals last month and is now issuing weekly buy signals. The 34 week moving average has turned up for only the third time in 6 years. For the second time in 10 years, the market is attempting to break above the long term price channel. The potential for a continued rally in the US dollar is in place into the new year and January. A breakout here would target the 88 to 92 area if the panic continues. Seasonal's favor the US dollar this time of year until mid to end of January. The US Dollar still has to "FOLLOW THRU" here ---- and complete the upside breakout by HOLDING THE UPPER CHANNEL LINE BREAKOUT on a monthly closing basis.

     

    IS THERE ANYTHING THAT CAN DERAIL a dollar rally?  Since the EURO is almost 1/2 of the index --- the Euro would have to rally. Thus the question might be better if we ask --- IS THERE ANYTHING THAT CAN makes the Euro rally? See next Chart.

     

    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 --- !!!!!

    Dollar Weekly Price Chart

     

     

  • 10 Dec 2011 3:14 PM | Bill Downey (Administrator)

    Gold is arriving at a long term time and price point. The 26 week cycle is coming due in February. 2009 and 2010 provided a February low for the year. But it isn't always like that. Sometimes it produces a high. But if you'll notice, It's usually a MAJOR TURN POINT FOR THE YEAR. The last liquidity squeeze produced a Feb high and six month consolidation. Is that our scenario this year? Wouldn't a six month pause after a February high confuse the masses? On the other hand, wouldn't a February high also confuse the masses? 2012 might be just what the market is not expecting in the timing department. Either way our strategy will adjust. A Feb low at the Chinese new year will have us look for another rally as we saw in 2009 and 2010. A February high will have us looking for a major consolidation.

    From a price standpoint the turn point is right where the upper gold channel line and the lower blue dotted momentum channel line meet. IF we close below this area -- odds will favor a major low in February. If price can hold this area near 1600, then the potential for a February high will still remain a potential for this year. The 1628-1649 area will be where the long term channel lines meet. If there's a test to the downside, that's the most likely spot to watch.

    Gold Weekly Price Chart and Channel lines with Support and Resistance

  • 28 Nov 2011 6:38 PM | Deleted user
    November 26 2011

    GOLD
    The long term monthly chart shows us three major support area's. We are approaching the first support area in the 1570-1630 area where the 23% retrace area and the mid way channel lines. When long term markets under go a big correction, the 38% retrace area is the most often seen retracement. The 1381-1445 area seems like a low price when we first hear it but in the context of this bull market run and the chart below, it would be a normal long term correction. Finally the lower line at the 1100-1150 area would constitute a 61% retracement level. This is the least favored scenario for this correction but is still within the standard price range of this bull market.
    .Gold Monthly Price Chart
    SILVER

    The longer term monthly chart shows the most important line we have is the long term Blue Line. All through the Bull market this line provided resistance until the 2011 breakout. But it was too much too fast. The crash of 2011 has brought silver back to this all important line. Silver has been trying to build a base at this long term trend line. We'll be watching the monthly close carefully at the end of this month. Last weeks close just about at the trend line.

    On a longer term basis, our silver button has been listing since the end of the first leg of the crash in May that the historical odds favored a 6 - 12 month corrective time period. We are now on month seven. This weeks close is once again at dangerous levels for silver prices. The coming monthly close will be important for silver to be above this long term blue line.
    Silver

    A zoom in of the silver chart shows a most troublesome pattern that needs to be watched very carefully here. We've already had two major sell off's since May and the current chart pattern is approaching danger area's if the 30-31 dollar area start letting go.Silver Daily Price Chart

    The world of Fractal's
    One of the greatest traders of our time, W. D. Gann said, "If you want to know the future, study the past." The chart below is the same HUI chart as above except the "FRACTAL" repetitive pattern has been added to the view. If you look closely, the fractal keeps getting bigger and repeating. We're currently on the "5th Fractal" of the 21st Century Bull market. The pattern is not "exact" as chaos theory gives it just enough of a twist so instead of "twins" we get brothers and sisters if you will. At least now we have a gauge. And we can see---- that if there is to be a correction --- its somewhere in this part of the Fractal that its most likely to happen. Once complete --- another larger Fractal will be due.

    Hui Monnthly Fractal Chart Pattern


    The US Stock market

    The weekly price chart shows the rebound in the stock market has been precise on our channel hits. The most important technical development is that the 34 week moving averages have given their first sell signal since the crash as the red moving average is above the blue average -- and price is below both of the averages.
    Spy Weekly Price Chart

    US Dollar

    It's decision time for the US dollar ---- as the BLUE moving averages is knocking on the door. A move above the RED line and the upper channel would put the "trend" in the dollar up ------------ for the first time in 6 YEARS. We also had our first Daily buy signal in 18 months (not shown).
    Dollar Weekly Price Chart

Technical Analysis :: Gold & Silver

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