In the next few weeks, it's hard to say if gold will stay within its new trend channel, or blast through the top purple line (post- Labor Day is, after all, the strong season for gold), or whether (as Turd Ferguson says) a head-and-shoulders top (or perhaps a double top) will be painted, and gold will plummet a few hundred dollars once again. The 144-day moving average is approaching its 3-year upper bound (grey dotted line), which signifies an impending major correction. The 200-day moving average, however, still looks like it's moving in an orderly straight line. Stay tuned.
For silver, I realized that the line I drew connecting its two lower-most points this year actually forms the top of a trend channel, the bottom of which was perfect support last week. My guess is silver stays within that channel. FYI, the top of the channel will hit $50/oz in the middle of October.