Currently, this site is best viewed on a Desktop computer

Gold's
Walking a Tightrope

 Review and Outlook for the U.S. Dollar, Silver, and Gold



Originally Posted on 7/16/2018 @ 12:45 pm EDT

by Steven Warrenfeltz



Subscribe to this Blog

 Subscribe by RSS Feed




Hello,

Thank you for visiting the Free-Bullion-Investment-Guide, every visit you make is greatly appreciated.

Before we get to this Review & Outlook, below are some of the Best Bullion Market-Related News articles that were taken from this guide's home page, over the last few weeks.


best news
Why Has Gold Not Lived Up to Its Status as a Safe Haven? - MetalMiner


AUDIO: Greg Weldon on Seeking Shelter From the Storm - Financial Sense


Gold, Silver Plunge in First Half of 2018; US Mint Bullion Sales Drop - Coin News


Gold Volatility is Near a Historical Low, Is it Time to Buy? - Market Slant


Buying gold and dumping stocks is a no-brainer this summer - The National


Gold industry considers its carbon footprint for concerned investors - Coin World


Despite decreased bullion sales in June, bullion coins may be the way of the future for U.S. coinage - Mint News Blog


Best of the Week for
Gold NanoParticle Cancer Research


Gold Nanoparticle Cancer Research Report #9 - Free Bullion Investment Guide








Gold's Walking a Tightrope




Gold is trading above a thin line that represents whether or not it is in a positive market, as long as it stays above the line, things look good, but if gold breaks it, it could ultimately be as bad as falling off a tightrope for the precious metal.

Silver's already fallen below its tightrope, as you'll see in the charts below, we'll see what gold does in the days and weeks to come, but to stick with the order of things, I'll be getting to gold last, first off in the charts below is the U.S. Dollar, then Silver.






Review & Outlook
Layout


The order of the asset analysis below:

  • U.S. Dollar
  • Silver
  • Gold

Each asset below has three sections.

  1. In the 'review' section, a copy of the previous outlook for an asset is posted.
  2. Next, you'll find a 'review - continued' section where there is a brief review of how accurate the previous outlook was.
  3. Finally, you will find an 'outlook for the week ahead' for each of the assets below.




All the charts on this blog are Daily Charts unless noted otherwise.






US DOLLAR


In Review

Three weeks ago, the outlook below was posted for the U.S. Dollar.

In the outlook chart below, you can see that the U.S. Dollar's price chart now has two negative 'Rising Expanding Wedge' patterns.

The older one is expected to be confirmed before the new one, simply because of where their lower trend-lines fall.

This week we may see the dollar finally fall below the bottom trend-line of the two-month-old 'Rising Expanding Wedge,' confirming it, simply because it seems the 'Trade War' is heating up.

The tariffs in the Trade War aren't supposed to take effect until July, so because the market is often seen as 'forward-looking,' we may see the expected effects of a 'Trade War' start move the dollar lower.

So for the week to come, we may see the dollar finally break below the older 'Rising Expanding Wedge' and possibly the new one too.

The U.S. Dollar's movement, this week, is mostly up to how the fundamentals in the market shape up.

If there is some kind of positive break-thru that keeps the 'Trade War' with China, Europe, and other countries from happening, then we may see the dollar abruptly stop its fall and either consolidate before more information is released or it may continue to move higher.

Or

If the 'Trade War' starts as expected, we should see the dollar fall more in price...Time will tell.


u.s. dollar price chart

U.S. Dollar - In Review - continued

The U.S. Dollar has moved a lot since the outlook chart above was posted, three weeks ago.

However, the dollar did bounce for a short time, but then it finally confirmed the Larger of the two 'Rising Expanding Wedges' in its chart.

In addition, in the dollar's moved down, after breaking the larger wedge, it stopped falling at the bottom trend-line of the smaller 'Rising Expanding Wedge.'

The move down may have had something to do with the Trade War, but it seems that it had more to do with profit taking than anything else.

The 'Trade War' is just beginning, so its a bit premature to think it will have a big effect on the dollar, which is why it has had little effect on the dollar's price, so far.


u.s. dollar price chart

U.S. Dollar - Outlook

In the outlook chart below, the U.S. Dollar looks to be having a hard time staying above the $95.00 resistance/support level.

The dollar's move up has been greatly helped by the Federal Reserve hawkish stance and rate hikes along with the help of the roaring economy and jobs numbers.

However, inflation is slowly ticking higher and higher and sooner or later it will start to eat away at the dollar's strength.

For the dollar's outlook, the $95.00 price level looks to be it's biggest hurdle, if it doesn't break it, we will see the negative 'Rising Expanding Wedge' pattern confirmed in the next week or two.


u.s. dollar price chart

Charts provided courtesy of this Guide's Affiliate - TradingView.com




U.S. Dollar's Price Resistance and Support Levels


U.S. Dollar's Resistance Levels

$96.00

$95.00

U.S. Dollar's Support Levels

$93.00

$92.00

$91.00








SILVER

In Review

Three weeks ago, the following outlook was posted for Silver. 

In silver's outlook chart below, you can see that it has formed a 'Falling Wedge' pattern.

Even though this wedge is considered to be a positive pattern, because of its proximity to the 'Long-Term Rising Trend-line' its positive effects could be brief.

If the price of silver falls below that rising trend-line, which currently sits around the $16.25 level, we could easily see silver fall below the $16.00 level and lower.

Silver's riding a double edge sword if a full-blown Trade War occurs it could hurt silver's industrial market, which could send its price lower.

However, silver could see a rise, this week,  if traders run to it for its safe haven/inflation hedge side of the market.

For silver's outlook, the 'Falling Wedge' is broad enough that the price has room to move inside it before it either confirms or denies it.

Personally, I'd like to see it rise and get away from its 'Long-Term Rising Trend-line, but I'm only an interpreter and because of all the variables in the market, silver could literally move either way this week.


silver price chart

Silver - In Review - continued


First off, silver's safe-haven properties haven't helped it as of late, nor has the possibility of a 'Trade War,' instead its been the dollar's steady rise that has consistently driven silver lower.

In the first review chart below, you can see that silver broke below the bottom trend-line of the falling wedge, denying the pattern's expected positive movement.

continued to the next review chart, below...


Silver Review Chart #1


Silver Price Chart


Silver - In Review - continued


Furthermore, by viewing the chart above or below, you can see that the price of silver also broke it's Long-Term Rising Trend-line (tightrope) two weeks ago.

This is not a good sign for silver; please continue to silver's outlook section below to see how this action has affected silver.


Silver Review Chart #2

Silver Price Chart

Silver - Outlook

In the first outlook chart below, you can see that silver's Long-Term Rising Trend-line was over 2 years old, and there aren't any more to find.

In all honesty, you could draw a trend-line off the December 2015 low to the fat-finger low made in July of 2016 (seen in the middle of the chart below), but I've tried, the line is practically horizontal and isn't worthy of being called a rising trend-line.

In addition, now that silver broke below this level, the 'Long-Term Rising Trend-line' goes from a strong support level to a strong resistance level, you will see more evidence of this resistance in the second outlook chart, below.

Furthermore, now that we can't draw anymore rising trend-lines, we only find support in horizontal lines, from previous trading levels.

Support for silver now sits in the area between $15.60 to $15.20, as seen in the chart below.

Note: the black dotted line, at the top left of the chart, that isn't labeled, was silver's Long-Term Falling Trendline, which it broke in April of 2015.


Silver Outlook Chart #1


silver price chart

Silver - Outlook - continued

In the chart below, you can see what I was talking about, above, concerning the 'Long-Term Rising Trend-line' turning into a strong resistance level for silver.

Furthermore, since silver broke below the rising trend-line it hasn't been able to break above it, and even though it is now trading inside a positive 'Falling Wedge' pattern, it's doubtful that it will break above its new resistance level.

So silver's outlook is for it to break and confirm the 'Falling Wedge' to the upside, this week or next, but it doesn't seem to have the strength to break its new 'Resistance Trend-line,' in that move up.


Silver Outlook Chart #2


silver price chart

Charts provided courtesy of this Guide's Affiliate - TradingView.com





Silver's Price Resistance &
Support Levels


Silver's Resistance Levels

$16.30

$16.00


Silver's Support Levels

$15.60

$15.20





bullionguide




GOLD

In Review

Three weeks ago, the following chart and commentary was posted for gold's outlook.

For most of this year, gold, unlike silver, has been trading well above its Long-Term Rising Trend-line.

But now, as gold has sold-off, it has helped it come down to silver's over-sold levels, and has brought its 'Long-Term Rising Trend-line' back into view.

However, in gold's fall, it has now formed a positive 'Falling Expanding Wedge' pattern.

Like silver, it too has been hit by investor's taking on more risk.

But, that may change this week, as the consequences of a 'Trade War' gets closer, and as a consequence gold may rise as traders seek a safe haven.

In addition, gold's lower indicator's (MACD & RSI) look to be showing that gold's trading deep in oversold territory and could be about to take more of a move up.

Ultimately, time and fundamentals will show us, this week, as to how gold will move.


Gold Price Chart

Gold - In Review - continued

In Gold's review chart below, you can see that the price of gold has continually fallen in price, and its MACD and RSI (lower indicators) have fallen deeper into oversold territory.

Furthermore, even though the Falling Expanding Wedge is a positive pattern for gold, it hasn't helped gold, instead, the fundamental's behind the rising U.S. Dollar has crushed gold.

In addition, in gold's fall, it is now trading along its 'Long-Term Rising Trend-line' or tightrope. 


Gold Price Chart

Gold - Outlook

In gold's outlook chart below, you can see that it is practically trading along the rising trend-line and will undoubtedly be 'walking it' in the near future.

The fact that gold is trading inside a huge positive Falling Expanding Wedge pattern won't keep it from falling below the trend-line, the only thing that can keep it from falling under the rising trend-line is trader sentiment, and right now it's not good for gold.

For the week to come, I'm expecting gold to walk the tightrope, it may stay above it or it may not.

In addition, if the price of gold falls below the 'Long-Term Rising Trend-line' then we'll most likely see the price of gold move lower, and the positive wedge may become irrelevant.  Time will tell


Gold Price Chart

Charts provided courtesy of this Guide's Affiliate - TradingView.com





Gold's Price Resistance and
Support Levels


Gold's Resistance Levels

$1300.00

$1280.00


Gold's Support Levels

$1235.00

$1215.00







Thank You for Your Time.

Have a Great Week and God Bless,

Steve





Missions of the
Free Bullion Investment
Guide





The Free Bullion Investment Guide has three missions:

  • The 1st mission is to give anyone interested in the precious metals bullion markets, an honest place on the web that provides bullion market reference material, bullion market news, and other market-related information.





(Every Advertising LINK on this Guide is from one of our Affiliates)







'Click Here' see all of the prior Blog posts,



Thank You for Your Time!



Investment/Information Disclaimer:

All content provided by the Free-Bullion-Investment-Guide.com is for informational purposes only.  The comments on this blog should not be construed in any manner whatsoever as recommendations to buy or sell any asset(s) or any other financial instrument at any time.  The Free-Bullion-Investment-Guide.com is not liable for any losses, injuries, or damages from the display or use of this information. These terms and conditions of use are subject to change at anytime and without notice.






Return from this Guide's Latest Blog Post

and Visit the Homepage





Protected by Copyscape
Written Permission Must Be Received to Reproduce, (Verbatum)

For Source of Information Purposes:
Please Give Recognition with a Reciprocal Link to this Guide
Free Bullion Investment Guide






Free Bullion Investment Guide



FWT Homepage Translator


Donate with
PayPal, Debit, or Credit Card



NANO Cancer Awareness Ribbon for the Free Bullion Investment Guide


This Guide Gives Half of its Earnings
to
The Angel of Healing Cancer Research
Fund



Who is the
Angel of Healing - Archangel Raphael

Archangel Raphael The Angel of Healing



This Guide's Contributions to those Battling Cancer

$5042.36

Next Ledger Entry 11/15/2018

Last Ledger Entry 10/15/2018


Ledger History Spreadsheet




Time-line of Who this Guide has Sponsored

2012 - 2018












recent guide updates

Homepage Bullion News

updated daily - around 8pm

(except Saturdays)



10/16/2018


Gold Nanoparticle Cancer Research Report

Gold Nanoparticle Cancer Research Report
#11

A glimpse into what you'll find in this report:

  • How 'Nano Gold & Iron make MRI's safer and better'
  • What the result was with 'Treating Brain Cancer using a Gold Nanoparticle Nasal Spray'



10/15/2018

Ledger

Updated




10/14/2018


gold and silver technical analysis

What's Going On?
Market Overview






3rd quarter of 2018

Bullion News & Commentary




Discount Shopping page

Discount Shopping page

Updated




2nd quarter of 2018

Bullion News & Commentary




1st quarter of 2018

Bullion News & Commentary




Site Map

updated




Gold Libertads

1oz & Fractional

Gold Libertads

-

Mintage Figures Updated




US Bullion

All

US Bullion

-

Mintage Figures Updated




Austrian bullion

All

Austrian Bullion

-

Mintage Figures Updated




Cancer Awareness Gold Nano Ribbon

&

Cancer Awareness Gold Nano Ribbon

Cancer Awareness Information & Resources page

Note: Updates are listed in the Order that the Update was made.


















Weekly

Top 10 pages of the Free-Bullion-Investment-Guide.com

pages



Home page




The Bullion Guide's

blog



Cancer Awareness Gold Nano Ribbon

Cancer Awareness Information & Resources page




Bullion News Archives




Gold Nanoparticles & Cancer

Gold Nano-Particle



Engelhard Bullion

Engelhard



The 'Troy'
System of Weight

The 'Troy' System of Weight



Affiliates / Disclosure page




1 kilo. Silver Mexican Libertad

1 kilo Libertad



Dow to Gold

Ratio

Gold