GOLD Ready for the Next Leg? Watch This Breakout!
Gold has been in a strong uptrend, and the bulls are still in control.
Right now, the price is respecting a trendline support on the hourly chart and is forming a Cup & Handle pattern. This is a classic bullish continuation pattern, which indicates that buyers are getting ready for the next move.
The key level to watch? The neckline zone! A breakout from here could push the price higher, with the next major target sitting at 2986.500.
Keep an eye on this setup—if the breakout happens with momentum, we might see a strong rally! 🚀
Right now, the price is respecting a trendline support on the hourly chart and is forming a Cup & Handle pattern. This is a classic bullish continuation pattern, which indicates that buyers are getting ready for the next move.
The key level to watch? The neckline zone! A breakout from here could push the price higher, with the next major target sitting at 2986.500.
Keep an eye on this setup—if the breakout happens with momentum, we might see a strong rally! 🚀
Order cancelled
The Cup & Handle pattern we were tracking didn’t play out as expected. ❌
The price failed to break the neckline and instead took a dip.
Since there was no breakout, no trade was executed.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.