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The RSI for the Bullish Percent index on the Gold Miners index reached below 10 suggesting a low is near (Tuesday close 3.32). An RSI close above 30 have proceeded $GDX rallies; Wednesday's close 36.30. $gold $gld $XAU
Gold tested $1269 early Tuesday before reversing higher and gold finished 5-waves down on the hourly - Tuesday was the 55-day Fibonacci step out from the 3/27 high and Wednesday was the 21-day Fibonacci step out from the 5/1 high - did we make a low? The GDX needs to lead us higher.
Ya can always smell it when they fill the queue with central bank rabble speak >>> paper gold manipulation GOLD post shakeout - The Banks want to be long when the next rally in Gold takes place, as it plans to be a massive one to new highs, imho. At the same time, they will want to squeeze out as many weak longs as possible before that rally occurs. They can do...