We’ll cover our daily long positions at those targets because some most important resistances are “really” due in the daily GUNNER24 Up Setups of gold and silver. Probably, those targets are going to be reached as early as curtly after the market starting into the new week – maybe immediately at the opening.
Last Friday the future markets were closed because of Good Friday. But in Asian trading the very gold and silver spot prices were reached which point to big gaps at the opening of the electronic future markets, casually corresponding exactly to the GUNNER24 Month Targets for April.
Since in case of the metals the gaps use to be closed at once – maybe not just on Easter Monday because then the trading volume will be very thin questioning the shorties’ breath – on daily basis it will certainly be useful to take along fat profits. That corresponds to the GUNNER24 Trading Rules.
Even though by the beginning of next week some important monthly GUNNER24 Targets will coincide with some very important daily GUNNER24 Targets making us reckon with a correction first, the upwards trend in gold has not come to its end, nor has the blow off in silver.
Experience is telling me, it’s simply experience what the corrections look like, how profound they are, what the formations at the most different highs and lows look like, what about the volume at the highs and the lows etc. Those thoughts have kept me occupied from Thursday through the end of the week. Somehow I can’t stop brooding on how to resolve this gulf: GUNNER24 is showing that the price actually cannot go on rising because there are so many GUNNER24 Resistances at 1515 and 47.50 respectively and that now a correction has really got to occur.
In the final analysis my feeling tells me that the time for the end of the upwards trend hasn’t come yet! Well, but which possibility is there to solve this conflict? Which one is going to control? Is it GUNNER24 telling “it’s enough now, cover the longs!” or is it Mr. Altmann thinking “if my feelings are right there’ll be the opportunity to miss the “last”, highly profitable move?
So I’ve been poring over it since Thursday keeping on searching to justify my “feelings”, and I discovered the following:
In the chart above you see the weekly price course of the silver continuous contract SI # from October 2009 until today.
Compared with it see below the weekly price course of the silver continuous contract SI # of October 20XX till July 20XX.
I was just having the little joke not to put down the years in the lower pattern hoping that one of our readers will find them out. The first reader to send us his mail with the correct years will receive the Signals of the GUNNER24 Gold Trader free of charge for three months!
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The similarity of the pattern is really striking. Above all it’s giving us unequivocal evidence when the silver blow off might get to its end, precisely to the day… If I’m right interpreting the patterns GUNNER24 may be right predicting that silver has nearly arrived at its top. But also my feelings seem to be correct that the time for the final top hasn’t come yet! The upwards pressure might continue for at least three more weeks until May. But since the time and the upwards energy very often dominate the price they might really pulverize the existing resistances in price. 50 or even 60$ are possible.
But if the actual pattern conducts as it did in former times now we would consolidate during three weeks until 05/10-12 at the current highs or see the topping process, respectively.
Please pay attention to the count of the candles from orange 1 to 6. Orange 1 starts at the last corresponding candle with week loss. That would mean that next trading week a monster long candle might be in store for us perhaps reaching a top of 50$, rebounding from it and closing narrowly below 47, approximately. In the final analysis that would mean that next Monday +Tuesday/Wednesday the upwards energy stops being followed by a fierce correction. Please consider that as to be speculation but keep it at the back of your mind, it might happen like that.
Those are the pre-reflections so far, so to speak on the initial situation, what we will have to adjust to or may adjust to, respectively. Next week we’ll have more security on a possible accordance of the patterns.
Let’s briefly deal with the actual standing of the setups. It’s a pretty quick comment, but you certainly understand that it cost me more working to clear up the existing doubts between the GUNNER24 and yours truly, and after all today is Easter, and my children are demanding their rights!
In the case of silver GUNNER24 indicates it’s time now to cover longs in terms of price. In silver we can see the accordance at the 47.50 target in the monthly setup with the actual daily setup. Here again the monthly setup with the state of last week:
Last issue we pointed to the fact that the 47.50 are a magnet strong enough to be headed for as early as in April. The last silver spot prices from Asia even show prices above 47.60. That’s why we’ll cover there our daily silver long positions in case a 1$ gap really occurs.
Reason: Thus silver would have reached the maximum extension of the 8 candle initial impulse in the daily 8 Candle GUNNER24. Correspondingly we’ll have to reckon with a violent resistance at 47.50. If you see that 47.50 is not retracted and the gap doesn’t want to be closed but the 48 are reached you should take care of the scalps, as I do. Perhaps the 50.00 want to be reached until Tuesday or Wednesday. At the latest that’s where all the warning lights respecting a coming silver correction should start burning.
Gold has penetrated into the area between 1505 and 1515 where a decline is threatening, as well.
In the monthly 8 Candle GUNNER24 Up we see why last week proceeded that stubborn in gold. The monthly resistance Gann Angle so far has simply prevented gold from rising as fast as silver did. 1515 is the April target. Nevertheless this is becoming clear: If next week closes at about 1525 the resistance Gann Angle might be overcome “a little bit”, and gold might last above the Gann Angle for several months as it did in the past at the red circle.
In that case the May target would be the 3rd double arc at 1576 already. Among other things, this monthly gold setup is the reason why I can’t exclude the 60$ in the silver blow off. Merely rationally this might happen:
- In temporal terms the silver blow-off may last 3 more weeks.
- That means that gold, too, might close above the monthly resistance Gann Angle at 1525.
- In that case two weeks would remain for gold to reach the 1576.
- Where would silver be if gold had to go to 1576 in May…? At 60$?
In the daily setup we see that the 4th double arc is getting involved. It’s really a strong resistance gold would have to rebound from, first.
We’ll cover the daily longs if gold touches the lower line of the 4th double arc! As analyzed already, that’s where there is an intersection of targets with the monthly target. Covering is free of charge, and if gold closes above the 4th double arc we may go long again with target 1556. We’ll have to pay attention to a closing price above the actual Gann Angle corridor (gray hatched). That’s how we’d get the first clue that gold unconditionally wants to go on rising.
If gold succeeded in closing above the 4th double arc on Monday or Tuesday, respectively, gold might be willing to form a flagpole in the daily time frame, like silver does… So the 1576 might be reached within three weeks. In case of the break of the 4th double arc the 5th one always keeps on being the target. But in case of the 4th double arc at the beginning of this week, that one would be reached faster and at a higher price than the 1556.
Let’s finally have a quick look at the weekly time frame:
This setup allows an explosion upwards, as well. Last week closed below the important resistance being the middle of the just passed square (1505). If that one at opening is broken with a gap it might pop upwards that fast – so the 2nd double arc could be tackled at once. Next week will be lying on an important time line on top of that:
Please pay also attention to the conduct of gold at the last important time line (in the middle of the square at the red/green circle):
A top with a following correction was formed there…
If we see it that way in the case of god it fits in that next week might become very volatile perhaps being formed a spike-candle or possibly a significant top, respectively.
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