Loading ...CEF FOR CM
SACRASM OR FLATTERY ..whichever that was will get you a response but not necessarily the one you are looking for
This is a Log scale chart of CEF with Gold Superimposed
1…CEF ( Sprots Precious Metals Fund) is greatly underperforming Gold …Better to hold Physical Gold or GLD even
2…The Present Pattern looks Bullish as a stand alone ….Could be a Halfway pattern
3…However last time we saw a potential halfway pattern …it WASNT !
4…Yes Obviously there is a nice Cup and Handle ..Odds are this will break out UP but no guarantee of course
Was definitely how I feel about your chart analysis skills so not sarcasm. I didn’t have any predetermined opinion of anything I was looking for just hadn’t looked at the long term chart in a while and wondered about a long term price objective when the handle completes. As you know I have had since 2001 so I am not selling regardless.Need to remember this trust holds both gold and silver so it is naturally not going to match gold’s performance, that is why I like it, it will get an added kicker when silver begins to outperform which will be soon. Any thoughts on a technical analysis basis to the chart action before a cup and handle is formed? Does it add, subtract or is it irrelevant? Thanks for the response.
IMO a Cup and handle is Subjective. This Obviously has the LOOK of a Cup with a Handle
It really is a Powerful looking pattern
As to when it would likely breakout that’s the hard part
If the handle keeps “handling” for years …that would likely negate the pattern
One would expect a breakout any time from today to say 2024
Thanks much.
As you can see in a longer term chart, there is even a larger cup and handle going back to 1980.
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
Yes, both gold and silver have long term cup and handle patterns.