Gold: Inflation Is Accelerating

The market appears from an Elliot wave point of view the second wave correction or B wave is being completed. The targets are the VC PMI Buy 1 level of $1817, Buy 2 of $1799, and the 360-day cycle average price of $1810. Now we are waiting for the market to identify the bottom. A close above $1817 would identify the bottom, which would bring in all the other monthly signals and activate daily and monthly long trigger points.

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Disclosure: I am/we are long GDX. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from SA). I have no business relationship ...

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