Gold Headed for 110.2

Gold Headed for 110.2

I was wrong about Gold. Gold has broken down below the uptrend line (A). With the uptrend broken, I can label Gold's recent climb to 123 as possibly the end of wave 5. The 38.2% retracement level on Gold is at 110.2, there is also a technical support level at 110.2. If Gold pulls back to that price then I will consider buying Gold again. I would not short Gold until I see it backtest trendline A at ~115.8 but there is no guarantee that this will occur.

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