Bullion just a click away! SilverGoldBull.com
SilverGoldBull - Customer Reviews - 4.9 stars



Hitting Resistance

Precious Metals Review & Outlook
03/18/2017 thru 04/14/2017





Originally Posted on 04/09/2017 @7:06pm


Subscribe to this Weekly Blog post

 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 had a great week.

Before we get to this week's post; here are a few of Last Week's Best News Articles that were taken from this guide's homepage.


best news
The New York Times - Richmond Fed President Resigns, Admitting He Violated Confidentiality


DiMartino Booth - Is the Fed’s Balance Sheet Headed for the Crapper?


Reuters - Global debt hits $215 trillion in 2016, led by emerging markets: IIF


INFOGRAPHIC : Visual Capitalist - The Buying Power of the U.S. Dollar Over the Last Century


Perth Mint - Iconic swan makes rare appearance on spectacular Australian bullion coin


OPINION : Market Watch - The Smart Money is Record ‘Short’ in Stocks, and the Dumb Money is Record ‘Long’


GoldReporter.de - Gold reserves: China does not report any gold purchases again - google translation link


Best of the Week for Gold NanoParticle Cancer Research



GOLD NANOTECHNOLOGY : CANCER RESEARCH : PHYS.ORG - Researchers Develop a Lab-Scale Prototype for the Treatment of Skin Tumors


GOLD NANOTECHNOLOGY : PHYS.ORG - Using Nano-Particles to Detect Deadly Viruses





Hitting Resistance

hitting resistance

For the last two weeks, gold and silver have hit resistance as they've moved up in trading.

Silver’s resistance levels are at $18.30 and $18.50, while gold’s are at the $1250 and $1270.

Last week, they both were able to breach their first levels of resistance, but they were not able to break above the latter two resistance levels.

The precious metals charts below are showing that this week will most likely be a week of consolidation and profit taking.

However, fundamentally we still have the French Elections coming up on April 23rd which should continue to support the prices of silver and gold. 

Also, Janet Yellen, the Federal Reserve Chairman made a surprise announcement that on the 10th of April she will be making a speech and taking questions. 

This may have something to do with the Resignation of Jeffrey Lacker or it may not, either way, whatever she says about the future of interest rate hikes, could be either positive or negative for the precious metals.

Furthermore, fundamentals trump (no pun intended) technical analysis so depending on what Yellen states in her speech, it could change the direction of the market in an instant.

But, barring anything out of the ordinary, this week's charts are showing us that a new negative pattern will reverse the prices of the precious metals in the short-term future, while their long-term direction is still positive.






SILVER

Three weeks ago, I posted the chart below for silver, in it, you could see the Old Falling Expanding Wedge and a New Falling Expanding Wedge (bullish patterns) in the chart.

Over the last two weeks, the New Falling Expanding Wedge pattern has been playing itself out as expected.

Note: Click the chart (to the right) of a 'Falling Expanding Wedge' for Forex-Central's definition of the technical pattern.


2017 - March 18th - Silver Price Chart

Now that silver has finished playing out the Falling Expanding Wedge pattern, a new Rising Expanding Wedge (bear pattern) has formed.

In addition, the MACD and RSI, lower indicators, are showing that silver is hitting resistance.

But, even though a pullback is expected, silver is also expected to continue to trade inside its ascending channel.

Note: Click the chart (to the right) of a 'Falling Expanding Wedge' for Forex-Central's definition of the technical pattern.

2017 - April 9th - Silver Price Chart



Silver's Price Resistance &
Support Levels

Silver's Resistance Levels

$18.75

$18.50

$18.30


Silver's Support Levels

$18.00

$17.70

$17.25





GOLD

Gold’s chart patterns may look familiar….

Three weeks ago, I posted the following chart for gold, and like silver's chart, it too showed an Old Falling Expanding Wedge and a New Falling Expanding Wedge (bull patterns).

(continued...)

2017 - March 18th - Gold Price Chart

Charts provided courtesy of TradingView.com

Over the last two weeks, the New Falling Expanding Wedge pattern has been playing itself out, and now that the pattern has been fulfilled, a New Rising Expanding Wedge (bear pattern) has formed in gold's chart.

(continued...)

2017 - April 9th - Gold Price Chart

But, gold's bottom indicators aren't showing the reversal in the trading pattern like silver's indicators are, which may be an indication that gold is taking back the lead in their short-term trading patterns.

Gold and silver’s trading pattern have been discussed in these blog posts: Gold leads Silver, Gold still leads Silver, and The Freak is Back on the Leash.

However, the New Expanding Falling Wedge is looming over Gold's price, so like silver more consolidation in price is expected.

In conclusion, for gold, although a consolidation or pullback is expected, gold, like silver it is expected to continue to trade inside the rising ascending channel.


Gold's Price Resistance and
Support Levels

Gold's Resistance Levels

$1300.00

$1270.00


Gold's Support Levels

$1250.00

$1225.00

$1215.00





US DOLLAR

Three weeks ago, I posted the Dollar chart below; in it, I stated the following, after I pointed out the Rising Wedge pattern on the US dollar chart:

'The other negative pattern that is showing up in the US Dollar chart is a Head and Shoulders pattern.

If the price of the US Dollar passes below the Neck-line on the chart, the Head and Shoulders pattern will be fulfilled.  Time will tell.'

Unfortunately, time has shown "it isn't happening."

(continued...)

2017 - March 18th - US Dollar Price Chart

The US Dollar did not move below the 'neck-line', it briefly touched it then reversed its price direction.

But, the dollar is still trading inside the Rising Falling Wedge (bear pattern) and is still trading in a negative direction with lower lows and lower highs.

As long as Janet Yellen doesn't announce anything new tomorrow in relationship to interest rates, the dollar should see resistance at the $101.40 level.

2017 - April 9th - US Dollar Price Chart

Something to keep your eye on....

Tomorrow, Janet Yellen will give a speech, if the speech is more about policy than Jeffrey Lacker (which I doubt), then we may see silver, gold and the US Dollar make some strong moves. 





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

U.S. Dollar's Resistance Levels

$102.10

$101.75

$101.40


U.S. Dollar's Support Levels

$101.00

$100.00

$99.75




Platinum

The last two weeks, platinum has moved up its ascending channel, it has tested the bottom trend-line of the channel twice and continues to trade above it.

This week, platinum’s chart isn’t giving much of an indication as to which direction it will move, but it looks like it may test the bottom of the ascending channel once again.

2017 - April 9th - Platinum Price Chart

Platinum's Price Resistance and Support Levels

Platinum's Resistance Levels

$1000.00

$980.00

$960.00



Platinum's Support Levels

$935.00

$905.00

$890.00




Palladium

Since the beginning of 2016, Palladium’s price has been trading inside an ascending channel.

This week, palladium price has formed a rising wedge (bear pattern) and either this week or next it will hit resistance between its current price of 801.50 and $835 and reverse in price.

2017 - April 9th - Palladium Price Chart

Note:

Click the chart above for Forex-Central's definition of the Rising Expanding Wedge or 'Ascending Broadening Wedge.'



Palladium's Price Resistance and Support Levels

Palladium's Resistance Levels

$835.00

$820.00


Palladium's Support Levels

$785.00

$770.00





Have a Great Week.

Thank you for your time & God Bless,

Steve






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



Thank You for Your Time!







Please Donate to
Support this Guide

& Paypal

Thank You for
Your Support







Free Bullion Investment Guide







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


Search - Magnify Glass







Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.
14th Anniversary - Free Bullion Investment Guide

Affiliate Links - Disclosure


Walmart





Donate to
Keep this Guide Online

& Paypal

Thank You for
Your Support




Free Bullion Investment Guide

follow us in feedly
with Feedly



search

   Search the Guide

search engine by freefind advanced




recent guide updates

Daily

Bullion News on the Homepage



June 2025

Newsletter




2024 & 2025
Jerusalem of Gold Bullion 
Coin
photos
(bottom of page)

2024 1oz. Jerusalem of Gold bullion coin (The National Library of Israel) Obverse side
2025 1oz. Jerusalem of Gold bullion coin (The Hebrew University of Jerusalem) Obverse side



Gold Buying Guide

Gold Buying Guide



Mintages
for

2024
Gold & Silver Mexican Libertad

Gold Libertads

2024 - 1oz Mexican Gold Libertad Bullion Coin - Reverse side

Silver Libertads

1oz. Mexican Silver Libertad Bullion Coin - Reverse side



Chinese Gold Coin Group Co.
& Chinese Bullion

Chinese Bullion page



PAMP

Refiner page

PAMP Gold



Heraeus Refiner page

Heraeus



Johnson Matthey Refiner page

Johnson Matthey



Engelhard Refiner page

Silver Engelhard Round





Archangel Raphael
~
The Angel of Healing

Archangel Raphael ~ The Angel of Healing



Cancer Awareness Information & Resources

Cancer Awareness Month Ribbon with FBIG Gold-Nano Logo



Help Us Expand our Audience by forwarding our link

www.free-bullion-investment-guide.com.

Thank You!



June's

Best News

The Spiritual Battle Between Communism and Capitalism - The Daily Economy

Report: Gold Surpasses Euro, Challenges Dollar Dominance in Global Reserves - Oil Price

Is Bitcoin a Safe Haven Amid Geopolitical Unrest? - The Bubble Bubble Report (Substack)

Report: Central Bank Gold Reserves Survey 2025 - World Gold Council

Diversification Remains Golden - UBS

Gold Consolidates- Why is Gold’s Role in the World Financial System Rising? - barchart

Podcast: Market Outlook: Gold, Silver, Uranium — and Why We’re Bullish on Platinum - GOEHRING & ROZENCWAJG

Daniel Lacalle: Only Bitcoin and Gold Can Stop Governments from Destroying the Currency - Hedgeye

The Best Way to Judge when to Buy Silver - Daily Wealth

Video: DoubleLine Group CEO Jeffrey Gundlach talks about the price of gold, fixed income, private credit, President Donald Trump's tax bill, Federal Reserve monetary policy - Bloomberg

A Massive Copper, Gold, and Silver Deposit Discovered by Geologists: The Largest Mineral Deposit in 30 Years - Daily Galaxy (msn)

(.pdf) Report: World Silver Survey 2025 -The Silver Institute

Soaring gold price sees more people ‘clear out’ jewellery boxes, Ramsdens says - The Standard (U.K.)

Why I’m Bullish on Platinum: A Comprehensive Report - The Bubble Bubble Report

Understanding the Scope of Counterfeiting Bullion: The Silent Risk: Counterfeiting in Precious Metals - The Alchemist (LBMA)

Is The Silver Bull Finally Here? - Zero Hedge

Only Bitcoin and Gold Can Stop Governments from Destroying the Currency - Quoth the Raven

(.pdf) Report: In Gold We Trust, Monthly Gold Compass - June 2025 - incrementum

Gold: A New Regulatory Asset Class Under Basel III? - finews first

The World Is Quietly Running Out of Platinum - Daily Wealth

Canada approves law to fast-track resource projects, faces Indigenous opposition - Mining Weekly

Podcast: Unearthed: May Gold Market Trends – ETFs, Retail Divergence & Central Bank Demand - World Gold Council

Orwell's classic gets "Big Brother" Treatment - The Sunday Telegraph (Press Reader)

10 Essential Security Tips for Shipping Precious Metals, Preventing Package Theft and Damage by Upstate Coin and Gold - CoinWorld

Has the Great Commodity Bull Market Quietly Begun? - GOEHRING & ROZENCWAJG

Is Chinese President Xi Jinping on his way out? - NEW YORK POST

Gold Nanoparticle Cancer Research

Sona Announces Ethics Committee Approval For Melanoma Clinical Trial - Yahoo Finance

Sona Engages Clinical Trial Clinic for First-in-Human Early Feasibility Study of its THT Cancer Therapy - Sona NanoTech

Beyond the Glitter: Gold Nanoparticles as Powerful Weapons Against Multi-Drug Resistant Pathogens - Frontiers

Revolutionary One-Step Nanoparticle Synthesis Boosts Photothermal Cancer Therapy - DevDiscourse


All Articles were Originally Posted on the Homepage






Affiliate Ads