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March 9, 2014

Gold Angles

Gold's Daily Cycle Awaits Resolution

Gold's near-term technical setup can be currently viewed from multiple angles, and favoring one view above another is really only a matter of our definition of normal cycle behavior. Acting on that favored view, however, would be a bit hasty because the odds are not necessarily strong one way or another. If I traded every time I had an opinion, I'd go broke, and the current setup screams for patience. Price action will soon reveal the location of a low for the current daily cycle and should do so without any dramatic movement. To be prepared, let's have a look at the angles ...


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