In the short term, there is inverse H&S action all over this gold chart. The bull flag target is $2800, and the massive inverse H&S patterns target a price well above that, at $3300!
The deal is expected to close in the 4th quarter and will be funded with existing cash reserves, debt facilities plus a new $500 million committed bank facility, according to JP Morgan.
Geopolitical tensions, central bank purchases, rate cut talks, and falling bond yields drove gold to new highs, closing at $2,537.80 for front futures.
It's probably time for the difficult phase to be done. We've finally broken out, it looks like this one's going to hold above $2500 so now I think we're ready for another easy phase.
Gold just made a fresh All-Time High. One senses there are further levels up the Gold road with better than four months for this year remaining to unfold.
