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Cycles Against Trends (guest: Alfonso Peccatiello)

The Market Huddle

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The Declining Follow Through Rally in Gold

I feel that there's a very reasonable chance that the rest of the summer going into Jackson Hole that the currencies are not going to have made big moves. I just don't think that you need to be rushed to put it on. You can still size this market up over the many weeks or months moving forward. But overall, this price action still leaves the window open for a dip under 1900. That doesn't make it a bearish trade.

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