Originally Posted on 07/17/2017 @7:43 pm
by Steven Warrenfeltz
Subscribe to this Blog
Hello,
Thank you for visiting the Free-Bullion-Investment-Guide's latest blog, I hope that you and your family have been well.
Before we get to this week's post; below are a few of Last Week's Best News Articles that were taken from this guide's homepage.
A little over a week ago, gold and silver dropped unexpectedly in price.
After prices dropped, it had become very obvious that little technical analysis could be done to determine the future direction of the precious metals.
For this reason, last week’s post centered around gold and silver’s price drop and offered very little outlook.
Now that the precious metals have settled down in their volatility, positive patterns have formed and a clear ‘short-term’ outlook can be offered for your review; below you will find charts for Gold, Silver, the U.S. Dollar, Platinum, Palladium and a follow-up review of the GDX (Gold Miners ETF).
Last week, after the dust settled from gold's price drop, a 'falling expanding wedge' formed in gold's price chart (below).
All falling wedges are positive technical patterns, however for gold to confirm the pattern it will need to break above the upper resistance trend-line of the wedge.
In addition, gold's MACD (lower indicator) is showing that its direction is about to change from negative to positive, so we should continue to see gold climb this week, but some profit taking is also expected as it moves up.
Charts provided courtesy of TradingView.com
Gold's Resistance Levels
$1250.00
$1240.00
Gold's Support Levels
$1210.00
$1195.00
Two weeks ago, when silver's price dropped, it fell so much that it came very close to breaking its 'Long-Term Rising Trend-line.
This trend-line has been in existence since Silver's December 2015 low of $13.60.
Technically it has fallen below it, as you can see by the thin lines of the candlestick's shadow (candlestick chart description photo), but apparently, that was caused by some one's 'fat fingers.'
If the price of silver were to close a day of trading below this trend-line, lower prices would surely ensue. In fact, if silver falls below this line, we can almost be sure to see it test the December 2015 low.
But, that hasn't happened, instead silver has formed a falling wedge in its price chart.
So, this week we should see silver stay above the long-term trend-line and start to test the resistance (red) trend-line of its falling wedge.
charts provided courtesy of TradingView.com
Silver's Resistance Levels
$16.55
$16.30
Silver's Support Levels
$15.55
$14.80
It's been three weeks since I've done any commentary on the U.S. Dollar, but that's mostly been because nothing has really changed.
At least 2 months have gone by since I outlined its Descending Channel.
As long as it continues to trade inside it, there isn't much I can say except "to expect more of the same."
When it breaks out of this channel a clearer future can be given for the dollar because it will be an indication that sentiment has changed; either for the better or the worse.
Charts provided courtesy of TradingView.com
U.S. Dollar's Resistance Levels
$96.50
$95.50
U.S. Dollar's Support Levels
$94.50
$94.00
Like the U.S. Dollar, it has been three weeks since I've made any commentary for Platinum.
However, three weeks ago I posted the chart below with the following commentary:
The Descending Channel is an obvious negative pattern for the precious metal, but the Falling Wedge is a positive pattern, so in an investor's point of view they cancel each other out, unless the price of Platinum breaks above the Descending Channel, after it confirms the Falling Wedge.
Overall, Platinum's outlook won't change to the positive until it breaks above the Descending Channel.
As you can see in the chart below, Platinum did confirm the positive Falling Wedge, but it is still trading inside the Descending Channel.
So nothing much has changed, except to say that Platinum's MACD does look like it is about to turn up, so the price of platinum could start to test the upper falling trend-line of the descending channel this week.
Time will tell.
Charts provided courtesy of TradingView.com
Platinum's Resistance Levels
$945.00
$935.00
Platinum's Support Levels
$920.00
$910.00
Three weeks ago, I didn't give much of an outlook for Palladium because there wasn't much to give.
But that's changed, over the last few weeks it's been forming a Falling Wedge.
So sometime in the near future, Palladium is expected to break this pattern, although this week's chart its MACD and RSI are showing that perhaps some pullback will happen.
Charts provided courtesy of TradingView.com
Palladium's Resistance Levels
$925.00
$885.00
Palladium's Support Levels
$830.00
$800.00
Three weeks ago I posted the GDX chart below with the following commentary:
I'm going to start randomly follow other charts that relate to the markets above, this week's addition will be the GDX – Gold Miners ETF.
Next week, I will move on to another asset's chart, unless the GDX breaks in one way or another the pattern that I found in the chart.
However, if it doesn't I will move on, but I will come back to it when the pattern does break to show you how it moved.
So, in the GDX's chart I found a falling wedge, this is a positive pattern as seen in the definition here.
I didn’t do a different asset chart last week because I wrote about gold and silver’s price drop, but since three weeks have passed since I posted the chart, I wanted to show you an updated GDX chart.
Practically nothing has changed, the GDX is still trading inside its falling wedge, and like all the others at some time in the near future, it is expected to break above it.
Charts provided courtesy of TradingView.com
Thank You for Your Time.
Have a Great Week.
God Bless, Steve
'Click Here' see all of the prior Blog posts,
Support this Guide & Paypal Thank You for Your Support |
|
|
![]() |
Search the Guide
search engine by freefind | advanced |
Daily
Newsletter
Gold Libertads |
Chinese Gold Coin Group Co.
& Chinese Bullion
Help Us Expand our Audience by forwarding our link
www.free-bullion-investment-guide.com.
Thank You!
In No Particular Order
August 2025
Shaping the Story: How Shape and Size Enrich a Coin’s Narrative - Royal Canadian Mint Gold Investors Go It Alone for Advice - Bullion Vault Graphic: Charted: The History of U.S. Recessions - Visual Capitalist Silver on USGS critical mineral list: stockpiling by US Government in the works? - Yesterday, August 25, 2025, the US Department of the Interior (DOI), through the US Geological Survey or USGS, listed Silver as a critical mineral.- Silver Bullion (Malaysia) Fidelity: Why the gold bull run is far from over - Asset class is not losing its shine and is already up 28% year-to-date- PA advisor Video: Further Upside in Gold Driven by Falling USD: Morgan Stanley - Bloomberg Gold is more like Manhattan real estate than oil, according to Goldman Sachs - Gold may be a commodity, but its price moves more like prime Manhattan real estate than barrels of oil, Goldman Sachs analysts wrote- Forbes (msn) (.pdf) Report: Market Trend Report for Key Physical Silver Investment Markets August 2025 - The Silver Institute Engelhard Bullion is Revitalized: MKS PAMP GROUP and BASF ECMS Proudly Revive Iconic Engelhard Classics at ANA 2025 - MKS PAMP Tariff Rebate Checks Are a Bad, Inflationary Idea - reason Decoding US gold bar tariff twist: how customs ruling jolted global bullion markets - invezz Report: Gold Demand Trends: Q2 2025 - World Gold Council Bullion Holding Firm - Precious metals remain steady, but collector demand for gold and silver coins surges at home and abroad, with dealers reporting strong turnover and buyers eyeing coins as inflation hedges.- Numismatic News Redollarization and Digital Statecraft: How Stablecoins Are Rewiring Global Power - Stablecoins, Statecraft, and the New Dollar Megastructure through the Genius Act - Financial Sense (.pdf) Report: Monthly Gold Compass - August 2025, Analysis includes: Gold, Silver, Mining Stocks Review, and more... - incrementum The Price of Gold Over the Decades - 24/7 WallSt. Antiques: Not all silver dollars are alike. What are yours worth? - The Desert Sun Palm Springs (msn) Mysterious coin linked to Jesus' biblical prophecy discovered - Daily Mail (.pdf) Report: Global Silver Investment Heightens in 2025 - Inflows into Silver-Backed Exchange-Traded Products Already Surpass 2024 Totals - The Silver Institute Graphic: Silver Mine Production Meets Surging Industrial Demand (2016-2025) - Mining Visuals The return of the gold bugs - Rothschild & Co. Podcast: Leigh Goehring On The Coming Revolution In Asset Markets - The Felder Report America Shocked After Learning Debt Must Be Paid Back - Stop the presses: Americans have just learned that borrowing money means eventually paying it back. Who could have guessed?- Quoth the Raven Margin of Safety - Bullion Vault Gold Nanoparticle Cancer ResearchSona NanoTech Provides Update on First-In-Human Clinical Trial on Treating a Variety of Melanoma Tumors - Sona NanoTech Light-and-sound-based thermometer helps gold nanoparticles destroy cancer - Biomedical engineers at Duke University have developed a method to more precisely heat up gold nanoparticles to target and destroy cancerous tumors. - PHYS.org $2 One-Drop Blood Test Detects Hidden Diseases in 15 Minutes - A new $2 gold nanoparticle test can detect deadly diseases in minutes, without a lab, offering life-saving speed and accuracy anywhere in the world. - SciTechDaily |
All Articles were Originally Posted on the Homepage