If this is indeed a major correction I would be looking for a...

  1. 5,881 Posts.
    If this is indeed a major correction I would be looking for a pullback to the 50dma on the gold/usd chart. Looking at the usd chart I could see a rally to around the 78c mark on the so given the 50dma is still climbing I think a bottom in the 780-800 range is on the cards.

 
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