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.  

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