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Gold has been on a HUGE push higher over the past few days giving us a VERY bullish market and putting Gold right back above the BMT once again which is now back at 1246.1 We have since pushed to new highs creating a new pivot high for the wedge. If we revisit those highs we can look for a selling opportunity to take it back lower but until then, I will be looking short back to supply at 1257.8 and lower to the BMT.
The Russell has been in a very strong up trend but has been seeing a harsh sell off bringing price under the BMT back at 1166.8. This push lower gave us a gorgeous looking test of the channel lows which was met with a strong push higher. With this bounce up I will be looking to buy this market higher back to the BMT but also higher to supply at 1171.1. As we are also under the BMT and overall negative I will also consider short trades back lower.
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