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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 Identifying Optimum Trends and Turning Points of the

21st Century Gold Market

Gold Resistance for Friday: 1237 - 1247

Report Status (Gold and Premium memberships):
Gold Daily Report posted for Friday.

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October 21 2014

CYCLES

The medium term cycle bottomed on October 8th (15 days past the ideal date but still within the 2.5 week standard deviation).

The rebound into October 23rd (plus or minus 72 hours) is taking place and the short term cycle is due to peak this coming week. October 23rd – 25th has the best odds of producing a short term high but we do want to say that the minimum objective for this move up has been met at 1256.

As you can see on the chart, today’s resistance came right at the red dotted trend line as we are now in the short term cycle window for a turn that lasts until Monday of next week.

We got our close above 1243/45 and reached the 1252-1262 1st weekly resistance and target. If we close above 1252-1255 odds favor we can move into the 1272-1282 area.

A pullback after this week should come into play lasting until the end of the first week of November where the next buy opportunity in gold comes in play.

Read more... 

gold cycles











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Technical Analysis :: Gold & Silver

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