Golden Cup and Handle? New ATH is coming?
A clear cup and handle pattern is forming on the monthly long-term gold chart. The confirmation of this pattern will be the overtaking of the recent ATH at $2075 and the targets of this scenario will be at $2775 and $3492 for the major cup and handle and 2367 and 2567 for the minor cup and handle pattern in case of confirmation (>2075).
In another scenario which is bearish breaking down of 1680 will confirm a double top pattern which projects the price to 1450 as the first support and 1160 as the next support of this scenario.
In another scenario which is bearish breaking down of 1680 will confirm a double top pattern which projects the price to 1450 as the first support and 1160 as the next support of this scenario.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.