Gold - Cup and handle continued
Updated
So it looks like my cup and handle idea played out well.
We are making higher highs, and lower lows, which is very bullish for gold, yet we are having resistance at the 100 EMA. Once this is cleared, we should move up rather quickly.
I believe with 99.99% certainty NFP will beat tomorrow, which will cause an initial drop in gold, but due to the fact that gold rallied after the ADP numbers, and the fact that the two reports are so closely linked, I believe this drop will be bought up before close.
We are making higher highs, and lower lows, which is very bullish for gold, yet we are having resistance at the 100 EMA. Once this is cleared, we should move up rather quickly.
I believe with 99.99% certainty NFP will beat tomorrow, which will cause an initial drop in gold, but due to the fact that gold rallied after the ADP numbers, and the fact that the two reports are so closely linked, I believe this drop will be bought up before close.
Note
Let's see a close over the 100 EMA.
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