Kevin Wadsworth: Opinions Mean Nothing, Charts Tell the Truth
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:
0:40 – Dollar Index Chart
4:25 – Dollar Long-Term
7:00 – Dollar do(om)ed 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.
Talking Points From This Episode
- Understanding technical patterns and resistance levels.
- Market fundamentals, speculation, and the chart.
- Outlook for the dollar, gold, and silver.
- Bullish trends for major cryptocurrencies.
Guest Links:
Twitter: https://twitter.com/Northst18363337
Articles: https://goldtadise.com
Kevin Wadsworth has a background in meteorology, having spent over 25 years in military and civilian weather forecasting. Over the years, his career has involved everything from briefing pilots to producing commercial advice to utility companies and providing TV and radio broadcasts. His current role is as a Civil Contingency Advisor consists of linking with the emergency response community. He gives advance notice of life-threatening weather events and advice during events that are influenced by the weather, such as wildfires and industrial accidents.
The science behind weather forecasting aims to unlock methods and techniques for predicting the future with ever-increasing accuracy. A friend and colleague helped spark an interest in the global economy and the financial world in the early 2000s. The financial crash of 2008 got Kevin hooked, and he gradually became aware of the similarities between forecasting the future weather and forecasting future price movements in the financial markets. Around that time, he read an abridged version of Strauss and Howes ‘The Fourth Turning’, which intrigued him.
The cyclical nature of markets mirrors the cyclical nature of the weather and seasons. The process of gathering evidence via multiple computer models that assess the likelihood of all possible future outcomes works just as well for predicting the future price of gold for indicating whether it’s likely to rain on the weekend or not.
His focus is on ‘tuning out’ of all the ‘noise’ and presenting clear and uncluttered charts, and gathering all of the evidence. Kevin tries to have no bias but instead follows the weight of evidence. He says, “I’m not a bull or a bear; I’m simply presenting the evidence as I see it.”
Kevin regularly posts on goldtadise.com and recently has been putting his charts onto Twitter.