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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.