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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