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All the signals posted earlier this week are non-confirmed. We will wait and see how it plays out this weekend.
In context, Gold and Silver are staging rallies which should take us a bit higher. Seasonally we will be entering a week period. Additionally the Elliotwave structure doesn't bode well for the precious metals in the medium term. Short term we should still see a rise of gold up to the $950 - $970 level, with Silver approaching near $15 before back tracking.
Volume levels are also decreasing on up days, increasing on down days. The large amount of sell warnings last week are perhaps shots across the bow. We do not know yet, if this is the big leg down we are waiting for. It could happen soon, or later in the summer.
Our candlestick pattern recognition system will be keeping a watchful eye as things develop.
