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Vanillasagna

Gold daily breakout on the cards - $1920 by year end

Long
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
Vanillasagna Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Fundamental Analysis
6
1
trendanalysis chartpattern fundamental
Gold is coming back up off the yearly lows and getting close to a breakout on the daily timeframe.

Look for a break of the channel top from August 2020 highs.

Target is 0.618 fib - $1920's
Comment:
Zooming out to weekly timeframe gold is painting a handle to last decade's cup - cup & handle target (in next 5 years) is $2800
Gold bigger picture - $2800 in next 5 years
Comment:
Daily break out - closed above the channel
snapshot

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