GOLD (XAUUSD): Bullish Cup & Handle
In the chart we can see a clear Cup & Handle Pattern has formed at a very key point. Price is hovering right above the Daily 200MA and RSI looks ready for a breakout.
At worst we can see the price go to retest the 200MA but from there I expect a bullish rally.
Gold is set to thrive in this environment. There is no short path to controlling Inflation from here and the FED has now made this abundantly clear.
There will be pain that needs to be endured as Powell is set to regain price stability.
It is a necessary process to ultimately create a healthier path forward.
Not to mention there is a Major War going on and with macroeconomic stress, this creates a very uncertain environment.
This forces money to safety.
Because of this, there is really only one way Gold can go from here in the long run.
At worst we can see the price go to retest the 200MA but from there I expect a bullish rally.
Gold is set to thrive in this environment. There is no short path to controlling Inflation from here and the FED has now made this abundantly clear.
There will be pain that needs to be endured as Powell is set to regain price stability.
It is a necessary process to ultimately create a healthier path forward.
Not to mention there is a Major War going on and with macroeconomic stress, this creates a very uncertain environment.
This forces money to safety.
Because of this, there is really only one way Gold can go from here in the long run.