Loading ...Golden Cup Opportunity….
Gold daily long term. Gold temporarily broke below a major support line. Back above now.
Zoomed below. Emphasizing the large cup and handle here on the daily. The cup is formed by the previous two highs of the last two years. The handle? Forming now.
An example cup and handle with the components:
Zoomed even more on the daily showing the recent action and the bull flag forming with perfect parallel lines. Was close to a breakdown. About as close as one could get. It held. Massive run time now? BEST BUYING OPPORTUNITY NOW!? I think so….
Last one as a bonus. This is a monthly chart. Notice a cup and handle? A MASSIVE ONE? 2011 and 2020 highs are the cup….
Handle? The ENTIRE cup and handle I just showed you is JUST the handle of the MASSIVE monthly cup and handle!
The drop in the stock markets will probably cause a slowing of the Fed interest rate rise. Guess what that will cause? Massive boom inflation time…. ALL Commodities will probably benefit. Get tangible assets or their producer etf/stocks now in my opinion….
Wow Sir Chuck
You arrive with a Bang !
Excellent Charts and reasoning !
Looks good to me 🙂 Thanks.
Sir Parabolic Chuck,
Great charts. God Bless you.
The gold bull market is truly well and alive.
Was what we saw in the juniors on 5/12-5/13, a capitulation low?
I hold MGMLF as a cost free position.
If someone had bought at the bottom of 0.1238 and exited somewhere near the high of 0.1771, that would be a 40% + gain in under a week.
In the case of MGMLF, I see a bigger cup and handle, and the handle of the bigger cup itself is a cup and handle pattern! Somewhere I had read that THIS C&H within a bigger C&H is the MOST BULLISH of all patterns.
But, we stay away because this still has the look and feel of a BMR. Time is teaching us that lesson again and again.
Who is correct? Sir Plunger or the market?
GL