Cup and Handle - Gold - BAD NEWS!

• Handle bottom equivalent to 1/3 of ATH
  
• Cup: The cup should be “U” shaped and resemble a bowl or rounding bottom. A “V” shaped bottom would be considered too sharp of a reversal to qualify. The softer “U” shape ensures that the cup is a consolidation pattern with valid support at the bottom of the “U”. The perfect pattern would have equal highs on both sides of the cup, but this is not always the case.
  
• Considering that the rise of gold is always linked to economic crises, pandemics, wars among other negative events. If this pattern holds true, a high chance of an uptrend for gold and (following this idea) catastrophic scenarios will happen in the coming weeks and months.
  
• Update analysis referring to the last September GOLD analysis:
  
  

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Cup and Handle Chart Pattern

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The target for the cup and handle pattern is fairly simple. Measure the distance from the cup high to the cup low and project that same distance beginning at the handle’s low point.

Cup bottom = 0.0 Fib
Cup top = 1.0 Fib
Handle bottom = 0.618 Fib
Target = 1.618 Fib

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Cup and handle pattern (BRL ~ USD):