Gold Poised for Upside Breakout of Current Range

http://www.hindecapital.com/blog/gold-poised-for-upside-breakout-of-current-range/

Jurassic Park toilet scene

According to Jesse's Cafe Americain's website,

Metal's breaking out. Timmy's at the wheel, with Jamie and Blythe in the back seat. Ben is the goat.

The Comex is headed for a default unless they can secure a large new supply of silver and increase their inventories.   Or allow the price to climb higher until the market finally clears and existing supply re-enters the market.

Cup and handle

Click on chart to enlarge.

Gold is forming a potentially bullish cup and handle continuation pattern. It theoretically marks a consolidation period before a breakout to the upside. It is just one of many indicators chartists utilize in technical analysis.

See disclaimers in the side bar.

Disclosure: long physical gold and silver.