This is a bananas setup for
GOLD1!
...
Technical Argument
Break of the neckline - monthly close above $2,020 per Oz ( or 2022 to be exact ;) ) could see a $1,000 gain in 12 months.
**This is about 65% of the TA target of the Cup & Handle pattern.
Even @LuxAlgo ECHO LUX indicator showing a projection to $2,500 per Oz ( 12 - 24 Months )
Fundamental Argument
Gold is traditionally a safe haven asset. Risk Assets are under pressure as inflation numbers are blown out from sanctions in Russia.
Governments find themselves in a tight spot as budget deficits are at all time high from QE after Covid lockdowns.
Perfect storm for an economic reason with massive inflation.
Gold is an Inflation Hedge!!!!
This could be a brilliant portfolio hedging position for a year or even longer.
I'll be looking at taking a spot position due to the long time frame and might supplement the breakout with a small XAU CFD for a short term scalp (2 months Max)
Position Details:
Entry: $ 2,020
1st Take Profit: $ 2,500
2nd Take Profit: $ 3,000 -----> WOW
Term: 12 - 24 Months
Bang!
@theRaggy
GOLD1!
... Technical Argument
Break of the neckline - monthly close above $2,020 per Oz ( or 2022 to be exact ;) ) could see a $1,000 gain in 12 months.
**This is about 65% of the TA target of the Cup & Handle pattern.
Even @LuxAlgo ECHO LUX indicator showing a projection to $2,500 per Oz ( 12 - 24 Months )
Fundamental Argument
Gold is traditionally a safe haven asset. Risk Assets are under pressure as inflation numbers are blown out from sanctions in Russia.
Governments find themselves in a tight spot as budget deficits are at all time high from QE after Covid lockdowns.
Perfect storm for an economic reason with massive inflation.
Gold is an Inflation Hedge!!!!
This could be a brilliant portfolio hedging position for a year or even longer.
I'll be looking at taking a spot position due to the long time frame and might supplement the breakout with a small XAU CFD for a short term scalp (2 months Max)
Position Details:
Entry: $ 2,020
1st Take Profit: $ 2,500
2nd Take Profit: $ 3,000 -----> WOW
Term: 12 - 24 Months
Bang!
@theRaggy