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<p>[QUOTE=&quot;Cloudsweeper99, post: 1568933, member: 3011&quot;]I&#039;ve mentioned this before, but if you look at a 2 year gold chart, it is in the process of forming a cup and handle basing formation.&nbsp; The recent move down fits perfectly with this.&nbsp; I have no idea whether the formationw will succeed or fail, but it would not be out of character to see a drop as low as about $1625 before the next leg of the bull market starts, or it could start earlier.&nbsp; If the price subsequently breaks above $1800 and holds for 3 days or so, it might be off to the races.&nbsp; A trader would wait for the breakout to buy to minimize downside risk.</p><p><br /></p><p>I didn&#039;t believe in technical analysis for a very long time.&nbsp; I don&#039;t know why this stuff works, but it seems to.[/QUOTE]</p><p><br /></p>

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