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November 7, 2013

Ready to Tumble

Little question remains that gold is mired in a daily cycle decline. The retreat off a Day 9 peak has now stretched to eight days. As mentioned a couple days ago, my quick scan of gold's bull market did not reveal any cycle that included a decline of six days or more prior to peaking. In other words, after an 8-day decline, a return to a new cycle high is just not in the cards. The question most pertinent to our analysis now becomes whether this daily cycle will ...

 

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