CFDs on Gold (US$ / OZ)Updated GOLD, This MILLENIAL CUP-HANDLE is Going to EXCEED EXPONENTIAL!
Hello There!
Welcome to my new analysis about GOLD on the monthly timeframe perspectives. Since the beginning of gold to be used as an exchange medium and value storage it has shown great resilience especially in times of crisis. This factor of GOLD became especially ingrained within the past months and years as inflation all over the world has reached peaks that did not show up since a very long time, since the oil crisis in the 1970s the world has not seen such inflation rates as developed in the past times.
What is amazing in this case is that GOLD always served as a major hedge against inflation in such times. As when looking at the chart seen in the lower right corner comparing gold and inflation rates over the times of high inflation this factor becomes present and reality, always when inflation rised the gold price moved on to climb higher. This phenomenon is now holding on with the inflation caused by oil shortages, money printing, and supply chain disruptions. GOLD managed to show up with all time highs and is now building up for the next huge breakout.
Considering the technical perspective GOLD is building this paramount gigantic cup-and-handle formation as marked in my chart with the handle just about to complete additionally with the strong inner broadening-wedge-formation that shows an additional confirmity setup for further expansions. Especially as GOLD is holding above the 60-MA this is a major support cluster from where the next bounce is likely to show up and once this happened with GOLD trading above the neckline as seen in my chart this will be the utmost setup for further expansions to follow up pointing to the millenial cup-and-handle target-zones.
Thank you everybody for watching. It will be great when you support my idea and we move on forward together.
"The desire of destiny is not for destiny. It is for the means of freedom and benefit."
VP
Welcome to my new analysis about GOLD on the monthly timeframe perspectives. Since the beginning of gold to be used as an exchange medium and value storage it has shown great resilience especially in times of crisis. This factor of GOLD became especially ingrained within the past months and years as inflation all over the world has reached peaks that did not show up since a very long time, since the oil crisis in the 1970s the world has not seen such inflation rates as developed in the past times.
What is amazing in this case is that GOLD always served as a major hedge against inflation in such times. As when looking at the chart seen in the lower right corner comparing gold and inflation rates over the times of high inflation this factor becomes present and reality, always when inflation rised the gold price moved on to climb higher. This phenomenon is now holding on with the inflation caused by oil shortages, money printing, and supply chain disruptions. GOLD managed to show up with all time highs and is now building up for the next huge breakout.
Considering the technical perspective GOLD is building this paramount gigantic cup-and-handle formation as marked in my chart with the handle just about to complete additionally with the strong inner broadening-wedge-formation that shows an additional confirmity setup for further expansions. Especially as GOLD is holding above the 60-MA this is a major support cluster from where the next bounce is likely to show up and once this happened with GOLD trading above the neckline as seen in my chart this will be the utmost setup for further expansions to follow up pointing to the millenial cup-and-handle target-zones.
Thank you everybody for watching. It will be great when you support my idea and we move on forward together.
"The desire of destiny is not for destiny. It is for the means of freedom and benefit."
VP
Note
GOLD gradually builds up above the 1900 level.Note
As inflation developments worldwide hold on the market-demand is holding prices above the pivotal thresholds.GOLD has been an inflation hedge since its beginnings thousands of years ago.
Note
ANALYSIS UPDATE: The GOLD price is boiling up for the final millenium cup-handle formation breakout to accelerate bullish dynamics.Note
NEWS UPDATE: Inflationary pressures and high interest rates make GOLD more attractive for investors to hedge against exceptionally high inflation rates.The net long open interest by institutions in GOLD increased supporting the bullish base.
Note
NEWS UPDATE: With completion of this gigantic GOLD Millenial Cup-Handle-Formation a GOLD mine-stock has a similar expansion-potential.Not, at least because even medium-sized economic fields are considering a implementation of a gold-backed currency-system, watch here for more news and the analysis on the dynamic:
Note
This Gold Stock Gem is going to emerge with a massive bullish expansion together with the actual Gold Price Action MIllenial Breakouts:
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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.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
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.