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Gold (/GC) has confirmed its 2nd leg down overnight on its 4 year, daily chart .. it is currently hovering this morning near 1302 which is a CRITICAL support fib in its parabolic move beginning in 2009 .. I also see 1284 (next possible price inflection) as a fib level on a 13 year, weekly chart. Overall though, this 2nd leg down on the daily could DESTROY the 13 year technical trend pattern for gold. Lots of damage happening here.


$800 here we come! 6/20/13