GLD, daily
SLV, daily
Summary
There is nothing in the near term to support any consistent multi-week bounce. Both the weekly and monthly cycles are warning of a major snap lower -something which not that many are forecasting.
The summer 2012 outlook for Gold and Silver remains $1400 and $25 respectively 'minimum' targets.....but they could go as low as $1200 / $20, if the main market weakens to around sp'1150/00.
