Gold is continuing the sideways Elliott Wave that we have identified last week. It has tracked our prediction almost perfectly. If we are right, expect another dip to 1795 or 1787. Although we are still bullish of gold, GC is trekking in the vicinity of all time highs, so watch for some more ranging before breaking out further. The Kovach Momentum Indicators are both oscillating, meaning there is some ambivalence here, and a trend has not yet been established (on 30 min charts.).
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