This is Huge! Gold & Silver Prices Will ABSOLUTELY SHOCK Everyone When This Happens – Gary Wagner

This is Huge! Gold & Silver Prices Will ABSOLUTELY SHOCK Everyone When This Happens – Gary Wagner

Gary Wagner, the Editor of TheGoldForecast.com, offers valuable insights into the gold and silver markets, analyzing current chart patterns and market dynamics to provide a precise outlook for the financial markets.
On Tuesday, gold prices experienced a slight uptick in anticipation of a US inflation report that could shed light on the Federal Reserve’s future rate decisions. Spot gold rose by 0.2% to 2,023.89 dollars per ounce, rebounding from a brief dip to a more than two-week low of 2,011.72 dollars per ounce on Monday. Despite technical analysis indicating a potential downward break due to market compression, Gary emphasizes that fundamental factors, such as actions taken by the Federal Reserve and economic data, especially inflation figures, will continue to influence gold prices.
Anticipating inflationary pressures in the United States has led to expectations that the Federal Reserve may refrain from reducing interest rates at the upcoming March meeting. This sentiment has somewhat reduced the appeal of non-yield-bearing assets like gold. Gold faces resistance as the US Dollar strengthens for the second consecutive session, supported by subdued US bond yields ahead of the release of US inflation data.
Gary notes that before breaking above the 2,000-dollar level, it had consistently acted as a resistance level. However, once the breakout occurred, 2,000 dollars became a new level of support. The metal reached its all-time high in December of the previous year, surpassing 2,135 dollars in the middle of the month. Gold surged above 2,000 dollars an ounce for the first time since May, driven by concerns over conflict in the Middle East, which overshadowed the impact of the recent rise in bond yields.
Gary Wagner employs a 50-day simple moving average to evaluate short-term trends and sentiment in the silver market.
Recently, the price of silver reached the target of 23 dollars but encountered solid resistance at this level, suggesting a bearish bias. It is testing the 50-day exponential moving average, which serves as a support line at 22.60 dollars. Notably, the stochastic indicator shows clear positive momentum, indicating a potential motivation for the price to resume its bullish wave and surpass 23 dollars, aiming for the next main station at 23.70 dollars.
Gary highlights the 25-dollar level as a significant area of interest where potential resistance or profit-taking may occur. Additionally, previous lows of around 24.33 dollars could influence price action.
Meanwhile, US investment bank JP Morgan predicts that silver will reach 30 dollars by the end of 2024. This bullish outlook is attributed to expectations of the Federal Reserve cutting interest rates and declining US yields, which could further boost silver prices.

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If we take a look at 2000 here you can see it was resistance here uh acted as resistance here and up until then it never even came close once we got the breakout that became a level of support so even when we look at these dips this is

1975 this is 2009 and this is 2022 so when we look at the last three sets of um High lows we’re seeing them really matching up with right around the $2,000 Mark and I think that that is where we have major technical support Gary Wagner the editor of the gold

Forecast.com offers valuable insights into the gold and silver markets analyzing current chart patterns and market dynamics to provide a precise outlook for the financial markets on Tuesday gold prices experienced a slight uptick in anticipation of a US inflation report that could shed light on the Federal reserves future rate decisions

Spot gold rose by 0.2% to 2023.2rpm anticipating inflationary pressures in the United States has led to expectations that the Federal Reserve May refrain from reducing interest rates at the upcoming March meeting this sentiment has somewhat reduced the appeal of non-yield bearing assets like gold gold faces resistance as the US

Dollar strengthens for the second consecutive session supported by subdued us bond yields ahead of the release of US inflation data Gary notes that before breaking above the $2,000 level it had consistently acted as a resistance level however once the breakout occurred $2,000 became a new level of support the

Medal reached its all-time high in December of the previous year surpassing $2,135 in the middle of the month Gold surged above $2,000 an ounce for the first time since May driven by concerns over conflict in the Middle East which overshadowed the impact of the recent rise in bond yields join us as we

Explore the insights shared by Gary Wagner stay updated by subscribing to our Channel and activating notifications thank you I’ve just compressed it starting so that we can easily see the beginning of the October rally which corresponds with some geopolitical tension breaking out in the middle of

Middle East that took the market up to a rather high high above 2000 it comes back down to about 1930 and then we got the alltime record high that was so shortlived if you blinked you missed it and that’s when we went well over 2100 and the following day this was on a

Weekend on Friday it closed at 273 I believe that is the highest close on record then it tracked up to past 2100 broke back down what we’ve seen since then is we have a truly defined Trend moving to higher pricing now we have a compression triangle we are seeing a

Series of lower highs a series of higher lows and whenever you get a scenario like that where you get the compression the idea behind that is as the range reduces uh just as when you wind up a spring um the energy builds and it builds until it hits the Apex of this

Triangle and then when it breaks you get a release in energy typically the releases to the prevalent Trend Direction so when we look at recent activity where it was trading at you know 1820 back in October moving up well over a couple of hundred dollar and now is compressing I’m

Assuming that based on just the technicals alone not the fundamentals because we know this has so much to do with when the Federal Reserve Cuts rates and a lot of other economic data that’s coming out especially the inflation numbers that will be coming up shortly you could get a break to the downside

But on a technical basis you typically look for a return to the prevalent direction of trend which has obviously been up since October I believe that and and I said this uh right before we broke effectively above 2000 it was my belief that 200000 would become the new level

Of support rather than the current level of resistance and that what we were seeing if we take a look at 2000 here you can see it was resistance here uh acted as resistance here and up until then it never even came close once we got the breakout that became a level of

Support so even when we look at these dips this is 1975 this is 2009 and this is 2022 so when we look at the last three sets of um higher lows we’re seeing them really matching up with right around the $2,000 Mark and I think that that is

Where we have major technical support Gary Wagner employs a 50-day simple moving average to evaluate short-term Trends and sentiment in the silver market recently the price of silver reached the target of $23 but encountered solid resistance at this level suggesting a bearish bias it is testing the 50-day exponential moving

Average which serves as a support line at $22.60 notably the stochastic indicator shows clear positive momentum indicating a potential motivation for the price to resume its bullish wave and surpass $23 aiming for the next main station at $23.70 Gary highlights the $25 level as a significant area of Interest where

Potential resistance or profit taking may occur additionally previous lows of around $24.35 could influence price action meanwhile us Investment Bank JP Morgan predicts that silver will reach $30 by the end of 2024 this bullish Outlook is attributed to expectations of the Federal Reserve cutting interest rates and declining us yields which could

Further boost silver prices let’s get back to the interview we’re looking at a daily chart on this daily chart the first thing that I have is this green line here a 50-day moving average simple moving average and that’s so we can quickly assess if on a short-term basis

A market is in a bullish or bearish Trend and where the sentiment lies we can see that back at the beginning of the year it did break below that which meant that shortterm sentiment turn bearish there is very strong support right around $22 per ounce we can see that it’s hit from

2219 on one low 2230 on the next low today is interesting because we have a very small siiz B um real body that’s that green portion of rectangle but look at the high it traded to a high of $23.16 and is backed off now to

2282 so it shows you that there was a massive amount of buying and that level at least for today was unsustainable and that’s what I find interesting resistance I would have to Peg at 2325 shortterm it is based on the 61.8% H retracement but more importantly the

Series of tops because the way that we look at support and resistance is where we have a a market top out or where it finds support and the way I look at that is if you’re on the second floor looking down you’re looking at support if you’re

On the first floor looking up you’re looking at resistance meaning support and resistance are part and parcel of the same thing so whereas this is an area of resistance right now once we get or if we get a solid break above call it uh 2325 that area should provide some

Energy for a breakout and then you really have no resistance to about 2350 the 50-day moving average and a move above there we’d have to look at the highs that came in December which are about $24.90 in the near term I mean it might sound obvious to say but we first got a

Break above 2325 and once we do that we have clear sailing at least till the 50-day past the 50-day moving average which is at 2348 we have to look at this top and this is what comes in close to $25 it has some lows that come in around

2433 that would be the area where it could run into if not resistance around The Profit taking meaning a and return how do you think the upcoming US inflation report will impact gold and silver prices in the short term considering the potential resistance at the $25 level for silver what factors

Could influence price action around this level share your thoughts in the comment section if the video resonates with you join our community by subscribing to our Channel and enabling notifications with the Bell icon thank you for being a part of our community