Gold Set up
A very clear 'Cup and Handle' has been formed on the daily.
Normally once the handle has been formed, we will see something similar to a double top where price is reaching resistance. we will have to wait to see if we can if gold breaks up into a long position where we will see new highs on the gold price which could at least reach the price of 1320.00 minimum.
or.... we will see gold break down to a demand price for gold buyers of around 12800 and look to buy. I am favouriting long on gold.
A very clear 'Cup and Handle' has been formed on the daily.
Normally once the handle has been formed, we will see something similar to a double top where price is reaching resistance. we will have to wait to see if we can if gold breaks up into a long position where we will see new highs on the gold price which could at least reach the price of 1320.00 minimum.
or.... we will see gold break down to a demand price for gold buyers of around 12800 and look to buy. I am favouriting long on gold.