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Gold continues to do well of late, moving within 5% of an expansion/extension level that is based upon highs back in the 1980’s. At the same time Gold is approaching the Fibonacci level, it is nearing the top of its rising channel resistance line.
Suggested Gold could reach the $1,900 level a couple of weeks ago (see post here)
Should Gold reach these levels does it mean gold has to fall apart? NO! At (3) it did happen to decline over 20% each time though! Harvest long Gold positions and attempt to score on defense up here? Hmmm….