[Image: Gold price chart (weekly)]
[Image: Silver price chart (weekly)]
Gold and Silver have been in a downtrend since March. According to price action technical analysis, gold and silver prices are currently breaking out of the resistance level. There are a few possible scenarios that could play out for gold and silver prices. Fun fact: silver has the highest positive correlation with gold compared to other metals.
- Gold and silver will break out from these key resistance levels, and surge to $1800 (gold) and $20 (silver) levels before losing momentum and dropping to the current support level again before rallying to the next resistance level. It’s very common for an asset's price to retest previous resistance (current support) after a breakout and before surging to a new high (next resistance).
- Gold and silver will consolidate around key support and resistance level for a while until the lower support level weaken which cause the price to drop lower (to the lower level of support). The lower support levels for gold and silver are $1683.38 and $14.366 respectively. This scenario will likely happen if the support level is tested too many times as the more a support level is tested, the weaker it becomes.
- Gold and silver will fail to break out, drop and consolidate around key support and resistance level for a while, and keep retesting until they eventually break out successfully. The prices will surge higher, and pull back to previous resistance (current support) before rallying higher to the next resistance ($1880.88 for gold and $20.843 for silver).
Note that price action technical analysis disregards certain market conditions such as fundamentals and macroeconomic factors.
To me... Gold will continue to Fluctuate in Value after the Monetary Correction, and go as high as $90 per ounce when Measured in our Corrected Gold Coins... I look at $20 per ounce Silver as if it's selling at 20 Cents per ounce... I figure Silver will go as high as $9 per ounce, once it is Measured in our Corrected Silver Coins... My way of thinking tells me that Silver and Gold are extreamly undervalued... I try to look at all prices, as if the Monetary Correction has already happened... I tend to Spend the Paper Fiat and Pocket the Change, since our Change will soon be making Change for our "4" Corrected Silver and "4" Corrected Gold Coins, that will range from $1 to $100...
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Yeah, but in the short term, there are still a lot of ups and downs for the prices.
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Everything that has ever happened, did so in the Present... Once the Switch is Flipped, we'll be in what I've been calling the "Redemption Period"... The U.S. Treasury will be offering "Special Deals" for anyone turning in their 90% Silver and Gold Coins... Those People turning in their 90% Silver and Gold U.S. Coins will be getting back Corrected Silver and Gold Coins, that will actually contain more Silver and Gold, along with Higher Face Values... I know that sounds hard to believe, but I have good reason to believe the reason why the U.S. Treasury will be making such great offers... A person in Texas just bought up 50 Million (Fiat) Dollars worth of 90% Silver and Gold, U.S. Coins... Do you think word of the Monetary Correction and the "Special Deals" to be offered by the U.S. Treasury are starting to leak out...???
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The only thing I know is fiat money is losing its purchasing power year over year. At some point we will need to replace them.
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I figure, we're in the last One Percent of the Fiat Dollars "Spending Power"... This is what leads me to the 100 to 1 Exchange Rate from Fiat to Real Money...
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