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Gold is trading near 1550 levels and MACD which is showing bearish movement after brokendown in strong trendline as well as trading below the signal line that compelete indicates strong bearish movement but Negtive divergence is not there that means we are trading in 4th wave of longerterm trend so it may go upto 1300 levels which is strong fibonacci resistance levels then could see a strong pull back upward rally in gold . So i think this downfall should continue in 5 wave pattern instead of ABC or in complicated pattern
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