The 15 minute Gold Miners Index chart shows the retrace of Minor wave 1 reaching the zone of the lower order 4th wave [iv]. This is the most popular geometry and is supported as an impending turning point by the low RSI reading.
Minor wave 3 price action is typically about 1.6 times that of wave 1, but there are no guarantees being offered. Check the charts of the component gold shares for similar patterns. Soon.
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