I'm not big on technical analysis but....

 

I'm not big on technical analysis but if it works anywhere it is within the context of long term cycles.  I've followed many techinical trading "systems' and talk about BS  designed to take the money of the gullible.  If any of them worked you can bet their founders would be billionaires rather than trading letter schillls.

However if you look at the 30 year chart from about 1995 to 2023 you can see we have just started to break out of a massive cup and handle formation - which is traditionally the most bullish formation in technical analysis. What it means is that over many cycles, with their own mini cycle lows, we've had a long term run up and then a massive 12 year consolidation in a cup pattern which appears to have broken out to the upside.

Personally, this is interesting to me only as a confirmation.   Because the END GAME TRAP that the world's central banks are caught in INFLATION OR LIQUIDITY CRISIS means that gold must rise as the system has become super unstable - with no apparant solution.

But the technical charting of this gives a picture that can be intuitively unerstood in this case.   So take it for what it's worth.