Cup and Handle: Potential Breakout for Gold
On the 4-hour chart of gold, I am predicting a “Cup and Handle” pattern forming, with a strong breakout potential. This pattern is often a sign of further upside, especially when it is confirmed by a breakout above the resistance line.
Recent news suggests that geopolitical instability could be a major factor pushing gold prices higher. For example, escalating tensions in the Middle East, especially armed clashes between regional powers, have prompted investors to seek gold as a safe haven. In addition, concerns about delays in tightening monetary policy by major central banks have also increased the appeal of gold.
Recent news suggests that geopolitical instability could be a major factor pushing gold prices higher. For example, escalating tensions in the Middle East, especially armed clashes between regional powers, have prompted investors to seek gold as a safe haven. In addition, concerns about delays in tightening monetary policy by major central banks have also increased the appeal of gold.
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