This weekly analysis provides an update on Gold (ticker: GLD) following the last assessment in the high 170s. Notably, a bullish cup and handle pattern has emerged, taking the form of a more dynamic head & shoulders configuration within the handle.
The handle, which itself represents a bullish head and shoulder pattern, is poised for a breakout from the right shoulder on the weekly timeframe, anticipated around the $191.77 mark. This pattern suggests a strong bullish momentum, signaling a potential upward trend.
As we navigate the financial landscape in 2024, all indicators point to a promising year for Gold. Stay tuned for further insights and real-time updates as we closely monitor the charts.
The handle, which itself represents a bullish head and shoulder pattern, is poised for a breakout from the right shoulder on the weekly timeframe, anticipated around the $191.77 mark. This pattern suggests a strong bullish momentum, signaling a potential upward trend.
As we navigate the financial landscape in 2024, all indicators point to a promising year for Gold. Stay tuned for further insights and real-time updates as we closely monitor the charts.