The Road of Uncertainty is Silver and Gold's
Best Friend

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

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Originally Posted on 1/06/2019 @  6:45 pm EST

Last Edited and Updated on 1/07/2019 @ 9:27 am EST

by Steven Warrenfeltz

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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 week.

Does the corporate debt mountain pose an avalanche risk? - France24


Global Silver Production May Decline More Than Analysts Forecasts - SRSrocco Report


Global Market Volatility: Fed Insider Shares Why 2019 Could Be Pivotal - DailyFX


Here's Why the Price of Palladium Just Zoomed Past Gold - U.S. Global Investors


Silver Is the Outcast Among Precious-Metals Outcast to Start 2019 - Bloomberg


Sell out of Year of the Pig 1oz gold and silver bullion coins good news for Australian Lunar Series III - The Perth Mint Blog


VIDEO: Billionaire Sam Zell Buys Gold for First Time in Bet on Tight Supply - Bloomberg

Best of
Gold NanoParticle Cancer Research News

Gold Nanoparticle Cancer Research Report #12 - Free Bullion Investment Guide

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For those who read this blog, you know that I've often stated one way or another that market uncertainty favors silver and gold.

Being curious, wondering how many times I've stated it, I looked up the word 'Uncertainty' in the new search bar found at the top right of every page of this guide and came back with 28 results.

So where is the uncertainty coming from in today's markets?

• The Federal Reserve blindly raising interest rates in a volatile market
  
• A ongoing Trade War with China that doesn't seem to have an end, yet.
• The U.S. Government Shutdown that is at an impasse over immigration.
  

Uncertainty can also be called a Chart Technician's nightmare because technical analysis rarely does what the patterns on the charts show what should happen.

So, I guess, I'm a glutton for punishment because one of the patterns in the charts, from the last review and outlook, below, was kind of confirmed, while others were completely off the mark.

But, the fact remains that these proven technical price patterns are showing up in the asset charts of this blog and when gold and silver get off the Road of Uncertainty, they will likely move as the patterns suggest.

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All the charts on this blog are Daily Charts unless noted otherwise.

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US DOLLAR

In Review

In each of the 'In Review' sections of this blog, you'll find analyzes the last blog post's outlook.

Below is the analysis and chart from this guide's last blog's outlook for the U.S. Dollar. 

U.S. Dollar - In Review - continued

In the 'Review Chart' below, the U.S. Dollar broke above the positive 'Falling Wedge' pattern, shortly after chart above was posted.

However, above, in the introduction to this blog post, I stated that "one of the patterns in the charts, from the last review and outlook, below, was kind of confirmed" the pattern in the chart below was what I was talking about.

Had the 'Falling Wedge' pattern been convincingly confirmed, the price of the U.S. Dollar would have continued to move up in price after it broke the upper trend-line of the pattern, but that didn't happen.

Instead, the dollar broke the pattern, and then fell in price, but then it broke back up through it again, only to move lower again.

U.S. Dollar - Outlook

In the U.S. Dollar 'Outlook' chart below, it has formed a Descending Channel.

The channel is narrow, and narrow channels are meant to be broken, and when they break they give a better idea as to which way the price of any asset will move in the future.

As for now, there are no other patterns in the U.S. Dollar chart, but as you can see the dollar has been moving sideways for the last few months, so if the $96.00 support level holds, we may see some more sideways movement.

So, if the support level holds, like it has in the past, we may see the dollar take a bounce and breaking the channel to the upside.

But, if the $96.00 support level doesn't hold, the channel is likely projecting the dollar's future trajectory, time will tell.

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

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

U.S. Dollar's Resistance Levels

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$97.70

U.S. Dollar's Support Levels

$96.00

$95.00

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SILVER

In Review

In the last blog post titled: Merry Christmas and a Happy New Year the outlook commentary and chart below was posted for silver. 

Silver - Review - continued

In Silver's Review chart below, you can see that silver broke up through the 'Rising Wedge' pattern shortly after the chart above was posted.

In breaking above the negative patterns upper trend-line, silver denied the rising wedge's expected effect on an its price.

Silver - Outlook

In silver's outlook chart below, it has formed a negative 'Rising Expanding Wedge' pattern.

If uncertainty continues to grip the markets, silver could easily climb up inside the pattern, but it is a negative pattern, so it is expected to fall below and break its bottom trend-line sometime in the future.

Charts provided courtesy of TradingView.com

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Silver's Price Resistance &
Support Levels

Silver's Resistance Levels

$16.50

$16.00

Silver's Support Levels

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GOLD

In Review

The following chart and commentary was posted in gold's last .

Gold - Review - continued

In Gold's Review Chart below, you can see that the price of gold skirted along and above the top of the upper trend-line of the 'Rising Expanding Wedge' breaking it and denying its expected negative outcome.

In addition, not only was the Rising Expanding Wedge denied, but the 'Long-Term Rising Resistance Trend-line' was broken as gold climbed in price.

This movement in gold's price is due to the uncertainty in the markets, and the broken 'Long-Term Rising Resistance Trend-line' is a positive sign for the precious metal's future.

Gold - Outlook

In gold's outlook chart below, the only pattern that keeps reoccurring in its chart is the 'Rising Expanding Wedge.'

Like the failed Rising Expanding Wedge in the review chart above, the one in the outlook chart below is expected to break the pattern by falling through the bottom trend-line of the negative pattern.

As to when that will happen is anyone's guess, in addition, as long as 'uncertainty' dominates the markets a lot of these patterns are irrelevant.

But, even though the patterns may be irrelevant as long as 'Fundamentals trump Technical Analysis,' you should still be made aware that they are there and looming over the price of gold.

The overall outlook for gold is for it to move up if the markets continue down the 'Road of Uncertainty,' but once more certainty comes into the markets the technical pattern below will hold more relevance, and the price of gold should break it to the downside.

Charts provided courtesy of TradingView.com

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Gold's Price Resistance and
Support Levels

Gold's Resistance Levels

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Gold's Support Levels

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Thank You for Your Time.

Take Care & God Bless,

Steve

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