The outlook for silver could be a drop back to $21.00, and if that happens, it would be a buying opportunity. You don’t have to be a rocket scientist to…
Tom welcomes back market weather forecaster and technical analyst wizard Kevin Wadsworth.
In this video episode, Kevin walks us live through the charts to discuss the market’s apparent direction. He highlights recent patterns on the Dollar Index as an example for other aspiring chartists.
He expects the dollar will regain some footing and move upwards based on support and resistance. Based on the long-term dollar chart, gold could peak around 2028. Kevin outlines how touchpoints and resistance lines work based on the current gold chart.
Kevin says, “An opinion is an opinion; opinions don’t mean that much unless backed by solid chart evidence. Only the chart contains the truth of how the market is reacting to all the fundamental drivers. It’s much easier to analyze a chart than it is to work out all the various fundamentals.”
The outlook for silver could be a drop back to the $21.00 region, and if that happens, it would be a buying opportunity. Kevin explains the benefits of moving averages and when you should adjust these tools. “You don’t have to be a rocket scientist to get some usefulness from these chart tools.”
Lastly, Kevin examines the chart patterns for cryptocurrencies and gives some possible price targets. He mentions that the charts are hinting that something serious economically is coming in 2023.
Time Stamp References:
0:00 – Introduction
0:40 – Dollar Index Chart
4:25 – Dollar Long-Term
7:00 – Dollar do(o)med chart
12:00 – Gold recent activity
20:10 – Silver chart and channel
25:00 – Gold and the long-term view
35:00 – Bitcoin and other crypto
43:00 – Other chart examples