The current daily price chart structure developed between August 7, 2020 and March 18, 2021 is 2.52 times longer in duration than a similar structure that was constructed between August 26, 2019 and November 20, 2019. Based on futures trader positions and expectation of a sharp decline in the Dow by May 5, 2021, gold is expected to follow the pattern of the 2019 price structure. A move up to 1950 prior to dropping to 1517 (+/-2%) would align with the March 3, 2021 post.
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