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.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.