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Gold: Sideways But Bearish Below 1680

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April 24 2012

Gold is trading sideways for few days now if not weeks, so we decided to rework the count. We are now observing an incomplete triangle placed in wave B) with sub-wave E yet to come, which is limited at 1680 level. After wave E, market will reverse lower into wave C), beneath 1612 low.

May 04 2012: Updated count

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