XAUUSD - GOLD CUP & HANDLE PATTERN
Gold is forming a large cup and handle pattern and seems to be almost ready to break above the handle to have a major move up after consolidating for the last year and a half.
Rising inflation and the conflict between Ukraine-Russia increases the likelihood of an uptrend. FED meeting in March will be a key event for the overall markets. A greater than expected interest rate increase may cause a short term downtrend. However, longer term outlook is bullish.
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* Not a financial advice and please do your own DD.
Rising inflation and the conflict between Ukraine-Russia increases the likelihood of an uptrend. FED meeting in March will be a key event for the overall markets. A greater than expected interest rate increase may cause a short term downtrend. However, longer term outlook is bullish.
Please show your support by clicking the like button.
Thank you!
* Not a financial advice and please do your own DD.