Multiple bullish patterns on Gold

4 thg 5, 2023

In the weekly chart, a major Cup and Handle pattern has become clearly visible, accompanied by the formation of a Bull Flag. The price has broken out of the flag, indicating that if this trend continues, the chart predicts a measured target price for gold. As an update to my previous analysis of Gold, I remain bullish on both Gold and Silver. Given their inverse relationship with the Dollar, I expect them to perform well as I anticipate the Dollar's value to depreciate over the coming months. There are numerous indicators that point to a rise in the price of Gold, including multiple bullish patterns on Gold and Silver additionally a bearish pattern in the DXY, which suggests that Silver and Gold are primed for a bullish run.

28 thg 10, 2023

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Still bullish