POSSIBLE SCENARIO A #1 A 10% decline in gold from the recent peak. (completed) #2 Consolidation around all-time high level - between $1921 to $1950 for 2 to 4 weeks. #3 Then a 20% to 25% move from all time high level (now support?) to $2300 #4 A significant re-test of the all-time high mid November to early December (could this coincide with deflation in the equities market?) #5 Then resumption of up-trend early 2021
POSSIBLE SCENARIO B #1 A 10% decline in gold from the recent peak. (completed) #2 Consolidation around all-time high level - between $1921 to $1950 for 2 to 4 weeks. #3 Then a 10% decline to the April to June support zone around $1670 #4 Longer-term consolidation at this level
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