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Gold, Metals, Mining
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Msg  369 of 369  at  9/12/2020 2:50:53 PM  by

Luckyone581


Gold Chart Outlook

I am giving an analysis in the newsletter this weekend regarding the formations in place in Gold at this time. You have both a flag and a pyramid that both are clearly defined but give different objectives.

The flag gives an objective of $2311 over a period of 44 weeks and the pyramid gives an objective of $2101 over a period of 21 weeks.

In both cases, a drop below $1911 will destroy the formations and change the chart picture. In fact, a drop below $$1911 could give a downside objective of as much as $1576. Nonetheless, the formation favors the bulls due to the uptrend in place. 
 
 
 
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