The start of a new bull market or just the an A wave correction. Whichever, I believe that this may be the 5th wave in the 5th wave based on Elliot wave and some parallel channeling.. An end to good run for gold and the subsequent correction could coincide with another leg up in the USD.
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A revised count for GOLD might suggest an ending diagonal for the 5th wave which can mean a marked change of trend. I prefer this count because the 5th wave is related to the first wave by a Fibonacci factions.
