XAU/USD Cup and Handle Finished

The cup and handle play that caused the huge rally by gold is now finished. Bottom of the cup was 1180 top 1346 1346-1180= $160. Bottom of handle ~1260 top of peak 1412 1412-1260= $156. While the price may still go up I believe that we are entering a consolidation phase between 1388 and 1418