The Gold miners ETF just broke a heavy weekly resistance, Gold..
The gold miners ETF just broke a big weekly resistance (since 2013) at 27.00 and its current price is now 28.72, what does it mean for Gold ?
As you can see, the price of this ETF broke a huge resistance, after a bullish pattern "Cup and handle", this is a big sign of a bull market for Gold !
Gold could breakout soon.
However, never forget that it might be a bull trap, in my opinion, if Gold breakout 1800$, you could buy a small size contract and enjoy the ride but never forget to set a stop loss ;)
As you can see, the price of this ETF broke a huge resistance, after a bullish pattern "Cup and handle", this is a big sign of a bull market for Gold !
Gold could breakout soon.
However, never forget that it might be a bull trap, in my opinion, if Gold breakout 1800$, you could buy a small size contract and enjoy the ride but never forget to set a stop loss ;)
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