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The bearish scenario is at risk

By this point, the count has been extremely challenged. Though I do not have problems labelling waves on the gold chart ( silver is less clear), the retracement has been so steep that makes me doubt that we are still in wave 2 of C. Of course, gold is notorious for violent, absolutely crazy extensions. At the same time, if wave 1 top is violated I will have to look for an exit and think of a more complex correction upwards that will last another week. If by tomorrow the price action is muted, or the price takes out the previous high, I will elaborate on the bullish case.

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