GLD - 1M - Cup and Handle
Gold reached a new record high this week, surging to $2,578/oz amid a weaker dollar and declining bond yields.
This spike followed economic data hinting at more aggressive action from the Federal Reserve ahead of next week’s interest rate decision.
With a decade-long cup and handle pattern forming on the monthly chart, a measured move could potentially see gold climb another 18%.
This spike followed economic data hinting at more aggressive action from the Federal Reserve ahead of next week’s interest rate decision.
With a decade-long cup and handle pattern forming on the monthly chart, a measured move could potentially see gold climb another 18%.
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