Gold has been working on a bullish cup with handle continuation pattern for nearly 2-years.
These patterns are typically bullish, reflecting a pause in a growing uptrend.
Gold could dip further to complete the handle, or prices may have bottomed in May.
To promote an upside breakout, gold futures need to close above $1900.
On the downside, I see firm support surrounding $1750 (+/- $10.00).
Sustained weakness below $1750 would imply a breached pattern and a more complex correction phase.
These patterns are typically bullish, reflecting a pause in a growing uptrend.
Gold could dip further to complete the handle, or prices may have bottomed in May.
To promote an upside breakout, gold futures need to close above $1900.
On the downside, I see firm support surrounding $1750 (+/- $10.00).
Sustained weakness below $1750 would imply a breached pattern and a more complex correction phase.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.