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We conclude that it is probable that gold is forming a local top and that at best, gold will be in a trading-range below $1440 for the next several weeks.
One week later, we continue with the same conclusion. In this article, we present the reasons for our thinking.
Gold And Silver
The correlation between gold and silver is normally strongly positive; however, in 2012 and again in 2018, the correlation dropped suddenly before recovering. Both gold and silver seem to be replicating the pricing pattern that formed