href="http://www.kingworldnews.com/kingworldnews/King_World_News.html">King World News) -Gold spot price (GOLDS-1,597.40) is little changed over the month, unable to hold definitively above 1,600, yet still failing to break below critical support at 1,539 (see Figure 9). A more neutral range may continue for a time as the weekly momentum remains on a Sell, though the angle of decline has moderated. Sideways action could establish a shelf of repair for a renewed attempt to rise at a later date. Parameters remain the same as last month, awaiting either a break to a new low below 1,539, or a move up through 1,641 (price resistance) and then through 1,700 (downtrend line) to suggest an advance may sustain.

Silver: Post Support-Break Bounce?

Silver spot price (SILV-27.48) briefly broke support at 27, and is struggling to hold the 2008 uptrend (see Figure 9). The weekly momentum (not shown) remains on a Sell, though easing. Now price needs to sustainably regain 27 and then 30 to suggest there is renewed strength to overcome further resistance.

A continued failure below 27 would leave our potential toward 25, even 20 in place. Backing and filling between current levels and 30 could constitute a repair process for the extended decline.

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