Possible Top in Silver

The silver market has some time symmetry shown on the chart with a potential 107 trading day turn due 11/29/12. Silver is hitting this timing just as the chart is approaching the upper parallel trend channel. I would think the potential for a significant top in this area would likely be invalidated if silver continues to rally 50 cents or buck over the line.

Kim Rice 11/29/12

XAU - If You're Bullish, May I Ask Why?

It doesn't look bullish to me unless the XAU rallies above the right shoulder at the 198 level. Otherwise, it looks like a massive topping pattern with much lower projections. The time and price symmetry of the House & Gable Roof pattern is quite impressive as annotated on the chart. If the symmetry continues, there may be an intermediate low in late October 2013.

Kim Rice 11-27-12