Gold Correction Lower Expected
60 Minute Bars
Prepared by Jamie Saettele
I wrote yesterday that “additional strength remains favored. A break of long term trendline support is needed in order to suggest that an important top has formed. The trendline is at 1357 this week. Near term, a new high would make 5 waves and give way to a small corrective decline back towards 1420.” That 5th wave has unfolded so look lower from here towards the mentioned 1420.
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