Gold’s Cup And Handle Pattern

A correction and consolidation are usually needed to facilitate an explosive breakout (within the cup and handle pattern). As we noted a few weeks ago, the move towards a breakout is probably 6 to 12 months away. 

In any case, Gold will probably make a low over the next several weeks and then rebound.

If Gold continues to follow that analog, then odds are the coming low is a higher low and therefore a significant buying opportunity.

Also, the measured upside target from the current cup and handle pattern is as high as $3,100 and the analog projects to $3,000 in 2 years.  

1 2
View single page >> |

Disclaimer: TheDailyGold.com and TheDailyGold Premium are not investment advice. The website, email newsletter and premium newsletter are ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.