Hey folks, welcome to verifiedinvesting.com. My name is Gareth Soloway, chief market strategist here. Now, in today's video,



  we're going to deep dive into the latest price action in the charts of gold and silver. What is going on here? What's the latest forecast? Are we headed back to all-time highs or are we going to see more downside? Let's dive right in. All right, so we're going to start with silver and we're going to start with no trend lines whatsoever. I want to show you how I come up with the trend lines. So, this video is both educational and insightful. All right, so number one, what we see here is this massive reversal red candle, right? And obviously from that point, we've been chopping. Now, what you can see is when we dipped down here and then we dipped here, we went lower. But look at the body of the candle, how it was essentially at this low. In addition, look at how you have all of these bodies right here. The bodies again are the red or the green portion versus this would be called the tail and the upper end is called the wick. Right? So again, identifying the different parts of a candlestick is exceptionally important to understand. All right. So the first thing I'm seeing here is that we have a support zone on the chart on silver right down here. It's essentially between $70 and $71. And we can really see it beautifully here. Here you had this kind of grind higher early in the bull run, the latest bull run. Then you kind of flatlined, flatlined, and then you took off to the upside. Right? And this was really euphoria coming in and then the wipe out of leverage and euphoria. Notice again comes down, hits, bounces, comes down, pierces, but then holds as a body and bounces. That tells us we have major support there. So, let's go here and put this in support at $71 to $70. All right. So, number one, we've just identified near-term support. Now, let's look at the resistance zone. So, resistance, we can see we went up as high as this area, which is interesting because it's right up here, right? Flat top, and then you can see how we got above it, but the excuse me, the bodies were right in that range. All right. So, what this tells me is that essentially we have a support zone right here. All right. basically 91 to92 uh per ounce maybe maybe even around 92 to 93 if we do it accurately. So let's put this in as resistance. So resistance 93 to 92 right $92 per ounce. Now what we've done here is identified where resistance is going to be where if price is going to reattain the all-time highs we have to break through this. Okay? Just like if you're going to see price break support, it needs to break $70 to $71 and then it can have that bigger fall to the downside. So essentially what we're seeing here is that on silver you've had the big flush out. Now we're trading up down up down up down like I mean essentially we're rangebound between 70 and $71 and 93 and $92. So that's important. And the reason why that's important is that these ups and down moves like um last Thursday there was a 10 to 11% drop on silver. And a lot of people would get scared at that. But if you know the range, you know that that's actually within the range, it doesn't really matter. All right? Just like if we go up 10% on Monday or Tuesday or Wednesday or any day, as long as we're below that 93 92 level, it doesn't really matter. It's rangebound trading. Okay. So now the next thing to look at here is the fact that we have a bigger formation here, right? So you have the big fall here. We go all the way down and then you look at this pattern formation. All right. What type of pattern is that? If I were just to draw this, right? And we were to go like this. What type of pattern is that? That's a bare flag, right? So essentially that pattern formation bare flag is repeating over here. Now, what that tells us is that assuming we stay in this range, let's say for the next week or two, at some point the odds are starting to stack that you're going to see a down move in the price of silver. Okay? So, again, this is really, really important to understand here, right? Because this is giving us a nearterm, you know, listen, near-term meaning the next few days probably sideways chop. So, sideways, neutral, you'd call that neutral. But if we look out a week or two, the the bears start to gain control. And and what's interesting is from a psychological standpoint, understand this, right? So you've had this big drop. If the bulls can't push it back to the highs, who do you think starts to gain confidence? Is it the bulls because they're unable to push it back to back above 93 92? Or do the bears start to say, "Ah, you know, this is now showing us that we're in control. They haven't been able to push it back towards all-time highs. So, let's push our luck and push price down. That's important, guys. Again, this is a psychological game. 95% of all trading is right in here. It's all mental. Okay? So, if we go into this and we have this sort of sideways chop, right? Eventually, the odds favor, and remember this is all a probability game. The odds favor a move to the downside, the bare flag essentially can complete. Now, if we look at where our downside target is, like where am I going to be accumulating? Well, number one, there'll be a small interim level here, right here. So, this would actually be a swing trade level for me if we get down to about $60, $59, $60 per ounce. You can see this little flat line right in here around 58.50. That area, see again, this trend line right here connecting these recent lows all the way up, low pivot, low pivot, low pivot. And that again is between basically $60 and $58 per ounce. So that would be a swing trade. Now on a more longer term basis, where do I load the boat? The answer is pretty simple here. What we do is we look and we say, okay, go to your bigger time frame. We're going to go all the way back to the 1979 1980 high. And we have this high, right? And then we also have it up to about this zone. And you might say, well, why is he going all the way up to about 54? I'll show you. Because if you zoom in, you can see these pivot tops here. Pivot high, pivot high. And so there's a range here, right? Let me just drag this out even more. Um, where again, if this is where you'll start to find support at 54, but we could easily pierce it and touch even as low as 48. Now again, you might say, "Wow, that's a $6 range." Well, yeah, but I mean, we're talking about a commodity right now that's trading sometimes within a 10 $15 range intraday. So, if I am a buyer, which I would be down in this range, I'm going to have my orders kind of labeled out, right? And so, I'll have one at 54. I'll have one at 53. I'll have a little bit even a bigger size at 52, probably even bigger at 50, and even a larger chunk at 48 if it gets that low to just dollar cost average in that lower range. So, again, to be clear, I actually I'm actually bullish long-term on silver, right? I don't think any it's hard for from any at least anyone that understands what's going on with fiat currencies as many as as of you guys do. It's hard for me to be bearish or anyone to be bearish long term because fiat currencies are just getting printed at nauseium, right? But in the near term, so very near-term, few days neutral, few weeks downside and over the next couple months, if we get down to that level, we start to look for the bigger move to the upside. And this is the beauty of it, right? When you don't chase at all-time highs, what can you do? You essentially can get to a point where your dollar, you're essentially buying at a huge discount. Huge. I mean, think about people that were buying at $ 110, $120 per ounce. If you're able to buy at 54 or 50 or 48, 50% more than a 50% discount to where everyone else was buy, huge opportunity. But it takes patience and it takes discipline. And it also takes the psychological aspect of being okay if you miss the trade. I've missed so many trades in my life, it just becomes the norm. I have my level. I have my discipline. And if I miss it, so be it. That's fine. All I care about is the trades that I do get. And if I get them and I make money on them and it's easier because I was patient and disciplined, then that's what it all comes down to. All right. So, just flipping back, what do we know? We know we have support at 70 to 71 right here. Resistance at 93 to 92. If we break this, we can go retest those highs. If we break this, we're to likely headed down to 54 to 48 area. All right. Now, let's flip over to gold and take a gander here. Gold's been a little bit stronger on the charts. You can see again where did it come down to here. So this is kind of an interesting little aspect. Gold came down. You could see this area right here. Uh a good area of support right in this vicinity. And you can see again you even got a little bit below. So you could even stretch it down slightly and to encompass that. But essentially the highs here, the lows here and you can see this area here. That's essentially your area of support. So if we do a quick rundown here, we have 4,400 to 4,300 we call it. So support 4,400 to 4300. Okay. Now in terms of short-term resistance, what do we have here? We have this low pivot and this high pivot lining up with this high here. That gives us a zone there of technical support uh resistance I should say. And that's a little tighter range. It's about 5120 to 5100. So it's about a 20 we'll call it 5125 of as resistance. So resistance 5125 to 5100. So it's a pretty tight range there. All right. So very very clearly we have our defined support, our defined resistance. Notice how gold is much closer to that resistance as the safe haven asset that it is versus silver which is much closer to the low end of its support. Now listen, is this still a bearish pattern? It is. Now listen, this pattern at least is stronger. But again, this pattern here, you know, again, if it continues and doesn't break out over the next week or two, I would start favoring a bigger dip downside again. So, let's talk about this. If you're able to get through this 5125, 5100, you retest 5,400, maybe even 5600. Okay? Now, if you come down and you take out this level at 44 to 4,300, where are you going? Most likely 3,900 right here. But ultimately my bigger zone is going to be back to 3450. Basically a 3500 pierce and this is where I will be major support right we'll call it 3450 to 3500 because it's really you know right in that range. This is where I will be loading up significantly if it gets back here. Now listen to be clear I want everyone to understand number one everything we're talking about is probability based. So pattern formations, if you looked at the pattern bare flag formation, it works out about seven out of 10 times. So you got a 70% chance. Still means 30% of the chance it fails, which is okay. That's what we deal with. We're in a world of probabilities, right? Everything's a chance. But we want to play the the casino side, not the gambler side, right? Gamblers go into a casino, majority lose, right? So more more often than not, you lose in a casino. Um as opposed to the casino is always winning more. That's the side we want to be on. And that's if we follow the charts, the angle we can be on. So that's really important to grasp that kind of mindset. It's actually gamechanging when you start to function your mind in a certain way. In fact, I'm going to be doing a free course for people that are just part of it. Verified investing that will go over trading psychology and try to try to formulate your mind so you have the power to kind of see this stuff. But in any case, the point being is that I have my levels. I still hold my long-term holdings in gold and silver. That hasn't changed. But on a swing trade basis, my levels are as such and I will buy more long-term holdings on silver 5448 and gold basically 3450 to 3500. All right, I've got to get going, guys, but I want to in let you guys in on all the action here in gold and silver. What the likely scenario is, what the forecast is, near-term, midterm, long-term views. Let's rock and roll. Thank you so much for spending time with me on this weekend. I'll talk to you soon. Take care.