Cup&Handle - CFDs on Gold (US$ / OZ) - 1W timeframe
Last 2-3 years was very intense for money printing, FRED website charts shows it as well. We also may look into some class of commodities (like corn, oats, wheat, energy), to confirm the words of significant loss in value of money.
It's always worth thinking about securing your profits & diversify funds, with proper (for you) balance on different class of assets – like Marc Faber in his times.
Beside any facts & rumors about CBDC, and new economy coming our way, I'll risk saying that the trust between banks is still mostly gold-based.
PS. Is hard to say if we see clear opportunity to have freedom with sale this goods in the future – Roosevelt knows best. But I just want to say, a small amount of portfolio could be nice hedge besides financial system economy. Besides - everything has it own cycle or lifespan. Gold outside food seem to have survived the longest in history as collateral.
Strength this class of commodities rise particularly during times of war and uncertainty.
GOLD / USD
Maybe just because of these few facts have a look for 3-4 years possibilities for midterm price prediction of paper gold with a cup and handle pattern.
So yes, this is look onto positive perspective for few years, although it is possible shortly correction, or little cooldown.
In this case of scenario I also assume short time declines:
Fall min. reach target: 1800$
Fall mid. reach target: EMA 144
Fall max reach target: Moving average 200
Reaching positive target prediction in this case of scenario is around 2800-3000$ per ounce without blow of top. However, we are in important psychological price range so follow price action up to date, especially at lower time frames.
Weekly:
Moving Averages: Supported
RSI: entering overbought area (still got some place)
Stoch: with price action (currently resistance area)
With little pressure from the actual financial system, national debt, lack of goods and the stock & economic discrepancies – opportunities for gold are highly appropriate.