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Gold is about to make a move

Gold can sport a bounce to the resistance trendline, completing wave 2. As we are likely to be in wave 3 of c at this point, the bounce is a probability and not a must. Things can develop extremely fast from here. The US market is also in consolidation which we covered here. The breakdown in stocks can coincide with gold, though it is not a necessity. Often it happens that gold moves first, and stocks follow.


1-hour chart


Daily chart

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