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clock Created with Sketch. 22/04/24
15:59
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Originally posted by Anonandon:
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I'm drawing a long bow here but gold could be forming a pennant flag on the weekly. This suggests one or two weeks in a range between 2340 and 2400 before the next leg up. If that occurs it will push it a long, long way above the 200 day MA although that line will be moving up strongly as well.
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l am actually of the view that it will be the first scenario. A pennant flag between $2,340 - $2,400 for a few weeks whilst the moving averages catch up and the gold indexes play catch up.
