Silver and Gold Find Support
(in their Short-Term Trade)

Gold, Silver, U.S. Dollar, Platinum, and Palladium  Review & Outlook
05/08/2017 thru 05/19/2017





Originally Posted on 05/14/2017 @8:03pm



Subscribe to this Blog

 Subscribe by RSS Feed



Hello,

Thank you for visiting the Free-Bullion-Investment-Guide's latest blog post, I hope that you and your family have had a great week.

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.


best news
The Silver Institute - Global Silver Mine Production Drops in 2016 for First Time in 14 Years


Business Standard - (India) - April gold import at 75 tonnes
- This Akshaya Tritiya day, 35-40 tonne of gold and jewellery is estimated to have been sold


VIDEO : Kitco - Is Gold Just A Dollar Play Right Now? - Rick Rule


FAKE BULLION ALERT : CoinWeek - Counterfeit Detection: 2017 One Kilo Chinese Silver Panda 300 Yuan


DiMartino Booth - Pension Tension, Part 2: Don’t California My Texas!


Econimica - Misconceptions of "Normal"


Honest Value Never Fails - Silver Sale - Now is the time to buy!


Best of the Week for Nano-Particle Cancer Research



GOLD NANOTECHNOLOGY : CANCER RESEARCH : UVa - VIDEO : Gold Nanoparticles in Treatment of Prostate Cancert


NANOTECHNOLOGY : CANCER THERAPY : WCVB5 - (Boston) - Promising treatment offers new hope to eye cancer patients




Silver and Gold Find Support


Silver and Gold Find Support




SILVER

Last week, the silver chart below was posted along with the following analysis.

Now that silver has found support at the $16.30 level, silver's price should start to rebound.

Its RSI is deep into oversold territory and its MACD is slowly starting to change direction.

This week, after all the lines from last week's chart were wiped away, a positive pattern has formed on silver's chart; a bullish falling expanding wedge.

In the week to come, we should see silver reverse its free fall in price and slowly start to move back up in price.

2017 - May 7th - Silver Price Chart

As we can see in the chart below, silver fell a little below the $16.30 and found support at $16.15, then it started to move higher.

Silver is still trading inside the falling expanding wedge and it will continue to trade inside it for at least a few more weeks before its price starts to trade near the wedge's upper trend-line.

For the week to come, silver is trading deep in oversold territory and it is expected to continue to slowly rise in price, with some profit taking along the way.


2017 - May 13th - Silver Price Chart

charts provided courtesy of TradingView.com




Silver's Price Resistance &
Support Levels

Silver's Resistance Levels

$16.80

$16.70

$16.45


Silver's Support Levels

$16.30

$16.15

$15.80





GOLD

For gold, the chart below was posted with the following analysis:

Like silver, gold’s chart this week is showing a bullish falling expanding wedge pattern.

Even though gold looks like it may fall a little more in price, we should see gold slowly reverse its pattern, like silver, and move higher this week.


2017 - May 7th - Gold Price Chart

Last week gold found support at the $1215 level, then it slowly reversed its price direction and started to move higher.

This week, gold’s MACD and RSI (bottom indicators), are showing that gold is trading in oversold territory, so for the week to come gold should continue to slowly creep up in price.

Furthermore, like silver, gold is expected to trade inside its falling expanding wedge for at least another week or two before it starts to come close to testing its upper trend-line.


2017 - May 13th - Gold Price Chart

Charts provided courtesy of TradingView.com




Gold's Price Resistance and
Support Levels

Gold's Resistance Levels

$1290.00

$1250.00

$1240.00


Gold's Support Levels

$1215.00

$1200.00

$1180.00






US DOLLAR

Below is last week’s Dollar chart and analysis

“.… as the dollar broke below the bottom trend-line of the rising expanding wedge, it also fell below the $99.50 support level, turning it into a strong resistance level.

This week, now that the French Presidential Elections are over, and the selling in the dollar is over too (for now), we should see the dollar’s price rise, but it is doubtful it will break back above the $99.50 in the near future.”

(continued....)

2017 - May 7th - US Dollar Price Chart

As we can see in the chart below, the $99.50 resistance level wasn’t as strong as I thought it was, because the dollar’s price rose up through it and didn’t stop rising in price till it found resistance at the $99.65 level.

Furthermore, the dollar broke back above the bottom trend-line of the rising expanding wedge and it ended the week sitting on top of this trend-line.

However, the U.S. Dollar continues to make lower highs and lower lows, so it is expected to fall back below the rising expanding wedge sometime in the near future.


2017 - May 13th - US Dollar Price Chart

Charts provided courtesy of TradingView.com




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

U.S. Dollar's Resistance Levels

$100.00

$99.65

$99.50

U.S. Dollar's Support Levels

$99.30

$99.10

$98.60



PLATINUM

Last week. I posted the platinum chart below.

2017 - May 7th - Platinum Price Chart

Although platinum rebounded from last week’s drop in price, its chart still isn't showing any clear technical patterns to mention.

However, platinum's MACD (lower indicator) is giving an indication that platinum should continue to rise this week.


2017 - May 13th - Platinum Price Chart

Charts provided courtesy of TradingView.com




Platinum's Price Resistance and Support Levels

Platinum's Resistance Levels

$945.00

$930.00


Platinum's Support Levels

$890.00

$855.00





PALLADIUM

If you’ve been following my analysis for the last few months, you’d know that all the precious metals have been trading inside an Ascending Channel, and all have been broken except for Palladium's Channel.

Palladium has been trading inside its ascending channel since Dec. 2015 and so far it doesn’t look like its going to stop anytime soon.

However, palladium has found itself trading inside a negative pattern called a rising wedge, so although its long-term trade looks positive, its short-term trade doesn’t.


2017 - May 13th - Palladium Price Chart

Charts provided courtesy of TradingView.com




Palladium's Price Resistance and Support Levels

Palladium's Resistance Levels

$820.00

$815.00

$810.00


Palladium's Support Levels

$785.00

$770.00





Have a Great Week.

God Bless & Thank You for Your Time,

Steve




Thank You for Visiting the Free Bullion Investment Guide

This Guide Donates half its earnings to St. Jude Children's Research Hospital.

If the information in this Guide has helped you, Please Help Keep it Online by Supporting our Affiliated Merchants or by giving a Donation.

(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!









Free Bullion Investment Guide




FWT Homepage Translator

NANO Cancer Awareness Ribbon for the Free Bullion Investment Guide

This Guide Donates Half of its Earnings
to

St. Jude Children's Cancer Research Hospital




The History of St. Jude Children's Research Hospital




Who is Saint Jude Thaddaeus

Saint Jude Thaddaeus



This Guide's Contributions to those Battling Cancer
since March 2012
$4,768.86


Next Ledger Entry 09/11/2017

Last Ledger Entry 08/11/2017


Ledger History Spreadsheet




Time-line of Who this Guide has Sponsored

2012 - 2017









recent guide updates

Homepage Bullion News updated daily - around 8pm

(except Saturdays)




Latest Blog Post

Which way will Gold and Silver Move? in their short-term trade

Which way will Gold and Silver Move?

in their short-term trade


Precious Metals Review and Outlook from
8/04 thru 8/18/2017




St. George the Victorious - Russian Gold Bullion Coin

Russian Gold & Silver Bullion Mintages - Updated

St. George the Victorious - Russian Silver Bullion Coin




Discount Shopping page - Updated




Blog Post

Yellen's Bluff: Part 2 - Consumer Credit

Yellen's Bluff - Part 2: Consumer Credit

Consumer Credit is showing troubling signs of stress; how did this happen and what is the Federal Reserve's role?



2014 Missing ASE

UPDATE #2

Blog Post

MISSING

2014 American Silver Eagles





Carcinoid Cancer Ribbon

Cancer Awareness Information & Resources page

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









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

pages



Home page




Bullion Guide Blog




Gold Nanoparticles & Cancer

Gold Nano-Particle



Engelhard Bullion

Engelhard



The 'Troy'
System of Weight

The 'Troy' System of Weight



1/20th oz Australian Gold Kangaroo (Nugget)

1/20th oz Australian Gold Kangaroo (Nugget)



America the Beautiful - 5oz. Silver Bullion Coins

America the Beautiful - 5oz. Silver Bullion Coin



Bullion News Archives




Chinese Bullion

Chinese Bullion



Latest Blog Post

Which Way Will Gold & Silver Move?

Which Way Will Gold & Silver Move?

in their

short-term trade


Precious Metals Review and Outlook from
8/04 thru 8/18/2017








Affiliate Ads