What we can see now in the current gold market are its retracements with the latest being the most important as gold has not only retraced almost the exact same amount as the 1974-1976 correction, but it has also backtested from its most recent breakout point just as in the 1970's gold . Coincidence? I think not.. This is Major Wave 2 corrective market behavior and we could very well be on the cusp of starting Major Wave 3 higher soon.
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