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Gold, multi-year bottoming pattern?

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Gold near term outlook : The market has indeed finally broken below that long discussed July low at $1077, reaching $1074 yesterday. No doubt the market is oversold after the tumble from the Oct 15th high at $1191, is seen within the final downleg in the decline from that high (wave 5, see numbering on daily chart below) and also likely part of that long discussed, major bottoming (see long term below). Though these all suggest that a bottom (potentially major bottom) is nearing, there is

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