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This Chart could be used as a textbook example of well behaved Chartology .
see the little pattern from reversal #4 >
It Played the 50 and 200 Moving Averages perfectly and broke out and had a perfect backtest
Rambus always says Gold markets have the most beautiful Chartology Patterns .
That could well be the case. Sitting tight, not selling a thing…
It is kinda purdy looking’.
The back test to the 200 day and bounce yesterday pretty much tells you bullish. A break above Tuesday’s high, say over 56 should be additional confirmation.