JDST what do you think the odds are that we are in a cup and handle pattern? Looks like 52.50 to 53.00 could be support, if that holds hmmmmm!!! The cup and handle is a pretty strong pattern if it hold support at the top of the cup.
Just a lot of open thoughts here tonight. Just one of my crazy chart days, take it all with a grain of salt.
Gold chart shows a H&S pattern with a target of 1278
weekly gold chart. Looking at some of the common trend lines that gold has followed, broken above/below and then retested. I could see the last trend line that it broke getting tested, but that would put gold at 1200 ish.
Maybe we still have another year of consolidation. LOL
gold is no stranger to the advanced patterns that usually end up in a fib .786 retrace
Just a lot of open thoughts here tonight. Just one of my crazy chart days, take it all with a grain of salt.
Gold chart shows a H&S pattern with a target of 1278
weekly gold chart. Looking at some of the common trend lines that gold has followed, broken above/below and then retested. I could see the last trend line that it broke getting tested, but that would put gold at 1200 ish.
Maybe we still have another year of consolidation. LOL
gold is no stranger to the advanced patterns that usually end up in a fib .786 retrace
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