I’m pretty excited as well.
Cup and handle with huge upside potential
BUT….
We are not out of the woods yet. Realistically (IMO) Gold needs to brake and stay above 2200 before I’m calling crazy targets like 2700. Because of inflation mainly. Normally cup and handles are straighter, which I blame inflation, so either I’m wrong and this a double top (lower time frame), or gold is about to go parabolic, which has begun… and why not. Copper ATH, Silver cup/handle. Technology speeding up, stupid politicians declaring war, space travel looming, I expect a run on resources.
Also despite the 2700 target, that’s just a measured move. The price may just bust right through…. If 2200 brakes.
Keep in mind the bearish RSI reversal divergence on high time frame. It’s been going on for years… since 1968 actually. Just play the trend.
The double top target is back down near 1300, and at this stage, unlikely
Cup and handle with huge upside potential
BUT….
We are not out of the woods yet. Realistically (IMO) Gold needs to brake and stay above 2200 before I’m calling crazy targets like 2700. Because of inflation mainly. Normally cup and handles are straighter, which I blame inflation, so either I’m wrong and this a double top (lower time frame), or gold is about to go parabolic, which has begun… and why not. Copper ATH, Silver cup/handle. Technology speeding up, stupid politicians declaring war, space travel looming, I expect a run on resources.
Also despite the 2700 target, that’s just a measured move. The price may just bust right through…. If 2200 brakes.
Keep in mind the bearish RSI reversal divergence on high time frame. It’s been going on for years… since 1968 actually. Just play the trend.
The double top target is back down near 1300, and at this stage, unlikely
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Gold Update
BlakeWissemann
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