Gold Bullish Potential with Cup and Handle Pattern
Gold on the 4-hour chart has formed a classic cup and handle pattern, indicating a potential bullish continuation. Currently, the price is testing the $2,458 resistance level.
A successful breakout above this level could signal a strong buying opportunity, targeting the next resistance levels at $2,500 and beyond. However, if the price pulls back for a handle formation, look for a retest around $2,420 as a secondary buying opportunity.
Ensure to set stop losses below the handle's low to manage risk effectively.
A successful breakout above this level could signal a strong buying opportunity, targeting the next resistance levels at $2,500 and beyond. However, if the price pulls back for a handle formation, look for a retest around $2,420 as a secondary buying opportunity.
Ensure to set stop losses below the handle's low to manage risk effectively.
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