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GOLD MAY GIVE US ONE MORE CHANCE WITH NEW LOWS
Our proprietary price cycle tool is showing us that the Daily Gold cycles may dive a bit lower, possibly into the $1250 to $1265 level, over the next 3~7+ days before reaching an ultimate low. We’ve been covering the precious metals markets like hawks because of our proprietary price modeling tools that suggested the April 21~24 dates as an ultimate low/momentum base pattern. This new cycle formation highlights the potential that a deeper price low in Gold may set up over the next 5 to 7 days and it may become an incredible buying opportunity for skilled traders.
Taking a look at this cycle chart, we can see the deep price low that may target the $1270 levels or levels just below the $1270 price area. It appears that this new price low may form somewhere near the end of this week, May 3rd, or early next week, May 6th or 7th. Please pay attention to this potential price move as this may be the last low price reversal before a very strong upside price move.
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