Gold is bottoming

The Market Trend Forecast reports that Gold is bottoming.

The editorial is quoted as saying:

The rally up from the February 2010 $1,044 lows has been a large “Wave 3” structure which is not yet complete. We have completed 3 of the required 5 waves for this structure, and the current correction is a 4th wave. This pattern looks like what I call or Elliott termed a “3-3-5” pattern. This means you see 3 waves down, 3 waves up, and then 5 waves down to complete the correction.

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