Buy Gold PAMP Suisse Bullion Bars

Gold's Bull Flag
Gets Denied

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

Originally Posted on 6/22/2018 @  4:57 pm EDT

by Steven Warrenfeltz

Subscribe to this Blog

 Subscribe by RSS Feed


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 week.

best news
'America the Beautiful' - 2020-2021 Quarter and 5 Oz Coin Design Candidates - CoinNews

Trade War Would Spark Inflation, Slow Economic Growth, Hinder Stock Prices - Forbes

5 Reasons The Drop In Gold Prices Shouldn't Worry Investors - Forbes

Gold Is at a 5-Month Low: Here's Why Gold Stock Investors Shouldn't Worry - The Motley Fool

A hawkish Federal Reserve is here - THE HILL

The IMF - What Is It - And Is It Overrated? - Advancing Time

Best of the Week for
Gold NanoParticle Cancer Research

Novel Gold Nanocomplex for Cancer Drug Delivery - The Hindu

Silver and Gold's,
Ups and Downs

Review & Outlook

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.


In Review

Last week, the outlook below was posted for the U.S. Dollar.

In the U.S. Dollar's outlook chart below, the long-standing 'Rising Expanding Wedge' is the only pattern that I've been able to identify.

As to when the pattern will be confirmed just isn't known right now and can't be predicted.

The 'Trade War' does seem to be heating up, but right now those headlines seem to be helping the dollar, not hurting it.

It's doubtful that, that outcome will last very long, but time will tell how long it will be until the 'Trade War' starts to hurt the dollar.

As for the U.S. Dollar's outlook, it looks like its price will consolidate this week after it shot up in price on Thursday, plus, the $95.00 price level looks to be holding the dollar's price down below it.

The 'Rising Expanding Wedge' is still expected to be broken, it just a matter of time before it does.

u.s. dollar price chart

U.S. Dollar - In Review - continued

In the U.S. Dollar 'review chart' below, you can see that the U.S. Dollar briefly peaked above the $95.00 resistance/support level, but it was unable to stay there and has started to drop.

As mentioned last week, the price of the dollar wasn't expected to break the 'Rising Expanding Wedge' yet, but it now has another negative pattern in its chart, see this week's outlook below to for more info.

u.s. dollar price chart

U.S. Dollar - Outlook

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.


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

u.s. dollar price chart

Charts provided courtesy of

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

U.S. Dollar's Resistance Levels


U.S. Dollar's Support Levels





In Review

Last week, the following outlook was posted for Silver. 

In silver's outlook chart below, the precious metal's chart has formed negative 'Rising Expanding Wedge' pattern.

Just by looking at the chart below you can see that silver's price has had its share of 'ups and downs,' gold's chart doesn't look too much different.

This year, the price of silver (and gold) have often given silver investor's a sliver of hope by slowly climbing in price, then have those hopes dashed when the price drops like a stone, in a day or more.

Fact is, silver hasn't moved much overall in price, it's mostly moved sideways in 2018.

Silver may break below the 'rising expanding wedge' this week, but its likely to do it in another short downward movement, much like its other recent downward movements.

silver price chart

Silver - In Review - continued

By looking at silver's review chart below, you can see that it followed through in its fall much like it has previous times this year.

It fell for a few more days after last week's post, then after it confirmed the negative 'Rising Expanding Wedge' pattern, it briefly consolidated, and now it's starting to move up again.

Silver Price Chart

Silver - Outlook

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

Charts provided courtesy of

Silver's Price Resistance &
Support Levels

Silver's Resistance Levels



Silver's Support Levels





In Review

Last week, the following chart and commentary was posted for gold's outlook.

In gold's outlook chart below, I've put the 'Bull Flag' in dotted lines because the pattern looks like it may be on its last leg, but it can be drawn, so it's still relevant.

Plus, I've studied the gold chart long enough and moved the trend-lines to show another Large Positive pattern is lurking behind the 'Bull Flag,' if it is denied, but I'll address that depending on how gold moves in the future.

For now, gold's outlook chart is showing another positive 'Falling Wedge' pattern, as to how soon this one will be broken is anyone's guess.

Perhaps, if the speculators in gold's market buyback, this week, the long positions they sold off on Friday, we'll see the 'Falling Wedge' confirmed sooner, rather than later.

Time will tell.

Gold Price Chart

Gold - In Review - continued

In the 1st Gold 'review' chart below, you can see that, as stated, the 'Bull Flag' was on its "last leg" last week, and got denied.

In addition, in last week's outlook, I stated that "another Large Positive pattern is lurking behind the 'Bull Flag," but, Gold's price drop was too much to salvage any of the old trend-lines, and it got denied too.

Gold Review Chart #1

Gold Price Chart

Gold - In Review - continued

The other pattern that got denied in last week's outlook was the positive 'Falling Wedge' pattern in gold's price chart.

Gold Review Chart #2

Gold Price Chart

Gold - 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

Charts provided courtesy of

Gold's Price Resistance and
Support Levels

Gold's Resistance Levels



Gold's Support Levels



Thank You for Your Time.

Have a Great Week and God Bless,


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

Thank You for Your Time!

Investment/Information Disclaimer:

All content provided by the 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 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

Free Bullion Investment Guide

Free-Bullion-Investment-Guide "Search"
search engine by freefind advanced

Search - Magnify Glass

Free Bullion Investment Guide

Rexing 55% OFF Sale

Free Bullion Investment Guide


   Search the Guide

search engine by freefind advanced

recent guide updates


Bullion News on the Homepage

July 2024



Austrian Philharmonic Silver bullion coin

Mintage Figures


Gold Austrian Philharmonic bullion coin

Mintage Figures


Austrian Philharmonic Platinum bullion coin

Mintage Figures


The Royal Mint &
United Kingdom Bullion Coins

Royal Mint - The Original Maker


Financial Links

for the

Bullion Investor



Numismatic & Bullion Auctions page

Auctions page - Going, Going...


Gold Sovereigns

2024 Full Gold Sovereign - King Charles
2024 Full Gold Sovereign - King Charles - reverse side

Archangel Raphael
The Angel of Healing

ArchAngel Raphael - 05

Cancer Awareness Information & Resources

July - Sarcoma Cancer Awareness Month Ribbon with FBIG Gold-Nano Logo

Help Us Expand our Audience by forwarding our link

Thank You!


Best News

2024 Central Bank Gold Reserves Survey - World Gold Council

REPORT: Monthly Gold Compass - June 2024 - incrementum

Hyperinflation or Deflation? Or, Rome vs. USA '24 - Bullion Vault

The Story of the Ritz Cracker Is the Story of Capitalism - Foundation for Economic Education

The Real Story Behind the Fed’s “Soft Landing” Narrative - Mises Institute

Every Central Bank Gold Holdings - Bullion Vault

A Few Thoughts About The State Of The Economy - Advancing Time

A New Copper Supercycle Is Emerging - Sprott Insights

Golden Nugget - Bullion Vault

Newsletter of the Free Bullion Investment Guide - June 2024 - Free Bullion Investment Guide

James Grant: Interest Rates To Go Higher? - Zero Hedge

How the Bond Market Works - Bullion Vault

A-Mark Increases Investment in and becomes Majority Owner of Silver Gold Bull, a Leading Online Precious Metals Retailer in Canada - Globe Newswire

Trump vs. Biden: How Could the US Election Affect the Gold Price? - Investing News Network

Gold Nanoparticle Cancer Research

Sona's Therapy Shows Significant Preclinical Efficacy in Second Cancer - Street Insider

Nanomaterials in Cancer Therapy: Advancing Ferroptosis Induction - AZO NANO

All Articles were Originally Posted on the Homepage

Gold per Troy Oz. (ozt.)

Silver per Troy Oz. (ozt.)