It's always a bit of fun to predict short term movements. Both the technicals and fundamentals are looking great for AAM at the moment.
I agree we have a cup and handle formation, here is my take on the action we will see short term:
- Cup and handle needs a close at 24c or higher to complete
- Gold closing above US$960 tonight will see a close for AAM above 24c tomorrow, otherwise early next week
- Once handle complete a move up to 27c, retrace to 24c to test breakout and then up over 30c by the end of the year
cup & handle formation occuring, page-29
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