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The sideways pattern I am getting contain normal “ABC” corrections so at the very least we should see a breakout above $1107 before it resumes any trend down.¬†If the trend line holds the gold could suffer another devastating dip which would take gold well below $1000, as we may also end on a 5th wave extension.

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By Theodoros  Batsoulis
Technical Analyst
Risk Market
www.riskmarket.co.uk