Currently, this site is best viewed on a Desktop computer

Silver and Gold are Getting
Squeezed

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



Originally Posted on 5/20/2018 @ 4:48 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
AUDIO: Simon Mikhailovich On The Ultimate Insurance Policy: Gold - The Felder Report


Gold’s Beauty Contest (Bull Market) Still Has Legs - Bloomberg


Gold can get to 5 year highs if it can clear one technical hurdle: Bank of America - CNBC


Charts: Household Debt And Credit Report: Up $536B in Q1, Another Peak - Advisor Perspectives


Gold And Silver: The Prozac Markets - Investing


Comex is a Side Show - FOFOA


John Paulson and Ray Dalio Stay Loyal to Gold - Bloomberg


Coin Finds: Halves discovered in old laundromat machine - Numismatic News


Will interest on the debt exceed defense spending by 2022? - PolitiFact


Know Your Rights With Debt Collectors - two cents


Best of the Week for
Gold NanoParticle Cancer Research


MU Med School Researcher Plumbs Potential of Herbs in Cancer Fight - ST. Louis Post-Dispatch


Gold Nanoparticle Cancer Research News #7 - Free Bullion Investment Guide






A Large Bull Flag is in Gold's Chart








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 that 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 following outlook was posted for the U.S. Dollar.

In the outlook chart below, the dollar has created a 'Rising Expanding Wedge' pattern.

The pattern is a little more narrow than the one found in the 10-year Treasury Note's chart discussed above, in this blog post's introduction, but its negative expectations are the same.

In the title of this blog, this question is implied: Will the Dollar's breaking of barriers last?   A: Time will tell.

My eye is on the $91.00 price level for the dollar, the line is now green because after a price has broken above a resistance level it becomes a support level.

However, now that the dollar has broken above it, it will have to show a lot of resilience to stay above it.  

For this week's outcome, the FOMC has a meeting on May 2nd, if the Fed raises rates after this date, a pullback by the dollar is almost inevitable, but if they don't raise rates, then perhaps the dollar may trade inside the 'Rising Expanding Wedge' before it confirms it, to the downside, sometime in the near future.


u.s. dollar price chart

U.S. Dollar - In Review - continued

In the U.S. Dollar's Review & Outlook chart below you can see that the dollar has consistently moved higher over the last three weeks, and has yet to come close to confirming the 'Rising Expanding Wedge.'

The FOMC didn't raise rates on May 2nd, and the dollar has had the 'wind at its back' with relatively good political and economic news (North Korea, Jobs Numbers).

In addition, the Ten Year Treasury Note's move to higher yields has greatly helped the U.S. Dollar reach YTD heights.

My eye was on the $91.00 level, but the dollar has basically left it in its dust, it has since crossed the $92.00 and $93.00 price resistant levels turning them into support levels.


U.S. Dollar - Outlook

For the U.S. Dollar's outlook, one of the biggest fundamental truths that I can state after looking at the U.S. Dollar's chart below is that: "Nothing Goes Up Forever."

Can it go higher?  "Yeah," right now, fundamentals in the bond markets are fulling the dollar's rise.

Technical patterns will always take a backseat to Market Fundamentals and as long as bond yields continue to move up, so will the dollar.

So, the outlook for the is simply to expect more of the same until market fundamentals start to set-aside for the dollar.


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

$95.00

$94.00

U.S. Dollar's Support Levels

$93.00

$92.00

$91.00








SILVER

Note: Work on the silver charts has been done over the last three weekends (since the last blog post), you will see this work in the extended silver review, below.

In Review

In the last blog post titled: The Dollar Breaks Barriers. But, Will it Last?,  the chart and commentary below was posted for silver's outlook.

In silver's outlook chart below, it has formed a 'Falling Expanding Wedge.'

The pattern is a positive pattern and it is a narrow wedge, so silver could move above it sometime this week.

However, because the 'Rising Expanding Wedge' is still looming in silver's price chart, the precious metal could also trade down and confirm the older pattern before it confirms the new one.

With the FOMC meeting happening this week on May 2nd, it's almost a toss-up as to what will happen in silver's chart this week. Ultimately, time will tell.


silver price chart

Silver - In Review - 05/04/2018

As you can see in the chart below, basically what was stated in the last outlook above, is what happened in the silver price chart below.

"because the 'Rising Expanding Wedge' is still looming in silver's price chart, the precious metal could also trade down and confirm the older pattern before it confirms the new one."

In addition, in the chart below this one, you can see that after silver confirmed the older negative 'Rising Expanding Wedge' pattern, it proceeded to confirm the newer positive 'Falling Expanding Wedge' pattern.


Silver Price Chart

Silver - In Review - 05/12/2018


Silver Price Chart

Silver - Outlook

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

As to when it will be confirmed is anyone's guess, but there are a few things to keep your eye on.

First, as you can see, the 'Long-Term Rising Trend-line' is in the 'Falling Wedge' pattern, if silver falls below that line, it won't be a good sign for silver's future, even if it confirms the 'Falling Wedge pattern.

But, we'll discuss that if it happens, for now, I'm hoping it doesn't.

The other factor to follow is the U.S. dollar's movement because if the dollar continues to rise we can expect silver to continue to move around and get squeezed inside this 'Falling Wedge' pattern.

So, even though the 'Falling Wedge' is a good pattern for silver to be in, there are some 'negatives' it needs to avoid for its future to be bright.

For the week to come, silver looks like it may continue to move sideways, but if market fundamentals turn negative for the dollar it may confirm the positive wedge sooner rather than later, time will tell.


silver price chart

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





Silver's Price Resistance &
Support Levels


Silver's Resistance Levels

$17.50

$17.00


Silver's Support Levels

$16.10

$16.00








GOLD

In Review

Three weeks ago, the following charts and commentary were posted in gold's outlook.

In gold's outlook chart below, it has formed a positive 'Falling Wedge' pattern inside its 'Bull Flag.'

As previously stated, the 'Falling Wedge' is a positive pattern, so it is expected to be confirmed by the price of gold breaking the pattern to the upside.

Perhaps when it breaks the pattern, to the upside, it could also confirm the 'Bull Flag,' but it will need to be a strong and convincing move up for the price of gold to break above the 'Bull Flag.'

Time will tell what happens.


Gold Price Chart

In Review - continued

Over the last three weeks gold has continued to bounce up and down inside the positive 'Falling Wedge' pattern.

That was until early last week when the both patterns were broken and denied as drawn in their current forms.

But as you will see gold's outlook, the positive patterns can still be drawn.


Gold Price Chart

Gold - Outlook

As mentioned in the review above, the positive patterns in gold's chart can still be drawn, and as long as the technical patterns can be drawn, they are still relevant.

For gold's outlook this week, like silver, gold's future mostly depends on how the U.S. dollar moves, if market fundamentals for the dollar turn negative, then we may see gold move up and confirm the 'Falling Wedge' pattern.

Time will ultimately be the judge as to how the precious metals move.

In addition, for gold to break and confirm the 'Bull Flag,' I still agree with my previous statement from three weeks ago:

"it will need to be a strong and convincing move up for the price of gold to break above the 'Bull Flag."

Perhaps, that strong and convincing move may come when the FOMC moves to increase interest rates as is expected on June 13th, but that's just speculation (on my part), yet it's just one more thing for gold investors to think about, as time moves on.


Gold Price Chart

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





Gold's Price Resistance and
Support Levels


Gold's Resistance Levels

$1310.00

$1300.00


Gold's Support Levels

$1280.00







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

$5007.13

Next Ledger Entry 09/15/2018

Last Ledger Entry 08/15/2018


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)



08/19/2018


gold and silver technical analysis

Has Gold and Silver Hit Bottom Yet?





8/15/2018

Ledger




07/23/2018


gold and silver technical analysis

Silver and Gold are
'Searching for a Bottom'






07/08/2018


Gold Nanoparticle Cancer Research Report
#9

Gold Nanoparticle Cancer Research Report #9

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

  • Sugar & Gold Kill Liver Cancer Cells
  • Silver & Gold work together to Fight Cancer
  • Gold-Silica Nanoparticles Gene Therapy



russia

Russian Bullion -

Mintage Figures Updated




Cancer Awareness Gold Nano 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




The Bullion Guide's

blog



Gold Nanoparticles & Cancer

Gold Nano-Particle



Engelhard Bullion

Engelhard



The 'Troy'
System of Weight

The 'Troy' System of Weight



1/10 oz. Canadian Maple Leaf

gold coin



Bullion News Archives




The Gold Market
&
Gold Bullion Dealers

Gold



Mexican Bullion

mexican bullion



Cancer Awareness Gold Nano Ribbon

Cancer Awareness Information & Resources page