TigerKing Safes - Flip Up Small Safe With Biometric Lock - $99.99
TIGERKING Flip Up Small Safe With Biometric Lock -

Silver and Gold
'Searching for a Bottom'

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

Originally Posted on 7/23/2018 @ 4:49 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 few weeks.

best news
Charts: Why are Interest Rates So Low? - Calafia Beach Pundit

Where It Stops, Nobody Knows: The Historic Buying Opportunity of Gold and Silver in Freefall - GoldSilver

CHARTS: A Long-Term Look at Inflation - Advisor Perspectives

Investors shunning gold but they may not be for long - CNBC

How Crazy It Is to Short Gold with RSI Close to 30 - Sunshine Profits

Best of the Week for
Gold NanoParticle Cancer Research

X-ray triggered nano-bubbles to target cancer - PHYS.ORG

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

silver and gold

There are many fundamental and technical negatives that are hurting the precious metals at this time.

Some of these negative factors include; the Federal Reserve, silver and gold falling below their long-term rising trend-lines, and a strong dollar.

So, the precious metals are searching for a bottom, but at this time its unknown as to whether or not they have found one yet.

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 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

U.S. Dollar - In Review - continued

This week, I created one chart (below) for the U.S. Dollar's review and outlook.

In review of last week's chart above, by looking at the chart below, we can see that the dollar continues to have a problem staying above the $95.00 price level.

The price level is turning out to be more of a resistance level than a support level for the dollar.

However, even though the $95.00 price level has proved to keep the U.S. dollar down, it still hasn't broken the negative 'Rising Expanding Wedge' pattern.

U.S. Dollar - Outlook

For the U.S. Dollar's outlook, more of the same is expected, basically an overall sideways move with violent moves to the up and downside.

Over the last week, traders seemed to be at a tug-o-war.

On one side is the Federal Reserve stating that they expect to continue to raise interest rates and on the other side is the President, stating that he's not happy with the interest rate hikes.

Ultimately, the market will decide how the dollar moves, and now it seems indecisive or sideways.

However, sooner or later we should expect to see the 'Rising Expanding Wedge' to be confirmed to the downside.

u.s. dollar price chart

Charts provided courtesy of TradingView.com

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's outlook for silver had two charts with commentary, and you'll find them below. 

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

Silver - In Review - continued

In silver's review chart below, you can see that the price did something that I've rarely seen, it fell through an already steep 'Falling Wedge' pattern, denying its expected positive outcome.

In addition, silver fell through the $15.20 price level, its fall stopped at the $15.15 price level, making it a new support level for silver.

Silver Price Chart

Silver - Outlook

In Silver's outlook chart below, I've adjusted the bottom trend-line of the steep 'Falling Wedge.'

I kept the pattern in the chart because as long as it can be drawn, it is relevant.

However, right now, silver continually seems to be finding new lows and although some kind of bounce is expected at its price, it is unknown whether or not it will have legs.  Time will tell.

silver price chart

Charts provided courtesy of TradingView.com

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, 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

Gold - In Review - continued

By viewing Gold's review chart below, we can see that it fell through its 'Long-term Rising Trend-line,' just like silver did the week before.

In addition, gold also fell below the 'Falling Expanding Wedge,' but, it didn't deny the positive pattern by closing a 'day of trading' below the pattern's bottom trend-line.

The 'Falling Expanding Wedge' pattern has been redrawn in gold's outlook chart below, in addition, gold has also created a new positive pattern in its outlook chart.

Gold Price Chart

Gold - Outlook

In gold's outlook chart below, you can see what I mentioned in the review above, that gold now has two positive patterns in its price chart.

Obviously, gold is expected to break above the narrow 'Falling Wedge' before it would break the positive 'Falling Expanding Wedge.'

For the gold's outlook, it is expected to break the 'Falling Wedge' sometime in the next week or so.

But, even if gold breaks the 'Falling Wedge,' by the looks of things, the precious metal will continue to fall in search of a bottom.

Gold Price Chart

Charts provided courtesy of TradingView.com

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 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

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

Search - Magnify Glass

Free Bullion Investment Guide

Affiliate Disclosure

Home Security Superstore - Non-Lethal Guns & Accessories


Non-Lethal Guns & Accessories


Home Security Superstore - Non-Lethal Guns & Accessories


   Search the Guide

search engine by freefind advanced

recent guide updates


Bullion News on the Homepage


Financial Links

for the

Bullion Investor



Numismatic & Bullion Auctions page

Numismatic and Bullion Auctions


Silver is Going Higher

silver is going higher


U.S. Bullion Coin

Mintage Figures

Seal of the United States Mint - US Mint


March 2024

Volume 44


Blog Post

Gold is Going Higher

gold is going higher


Gold Sovereigns

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


The Royal Canadian Mint &

Canadian Bullion

Royal Canadian Mint - east side view from Sussex Drive


Home Safe Buying Guide

Home Safe Buying Guide

New Page

Vault Storage Brokerages

Vault Storage Brokerages


Silver Libertad

Mintage Figures

silver libertad


Gold Libertad

Mintage Figures

Archangel Raphael
The Angel of Healing

ArchAngel Raphael - 05

Cancer Awareness Information & Resources

Cancer Awareness - April Esophageal Cancer - Nano
Cancer Awareness - April Testicular Cancer
Cancer Awareness - April Head and Neck Cancer

Help Us Expand our Audience by forwarding our link


Thank You!

Gold per Troy Oz. (ozt.)

Silver per Troy Oz. (ozt.)


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



Price Charts

Home page


1oz. Silver



Price Charts

Johnson Matthey

Bullion Refiner


Bullion Refiner


1 oz. Silver

Maple Leaf

South African

Gold Krugerrand


5oz. Silver


Troy vs. Avoirdupois

Systems of Weight