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2/18/16

For those who care about Goldman Sachs and its technical anal ysis view of gold...

...I was just sent this, hot off the GS presses, Thursday 8am.

2. Gold Daily/ Weekly –The rally since December 3rd continues to look like an incomplete 4 of 5-waves higher. This means there’s likely going to be at least one more move higher to fulfill the setup. Near-term support seems fairly strong between 1,192 and 1,185 (includes 38.2% retrace of the entire Dec./Feb. rise). This entire wave count stands within the A leg of an ABC counter-trend rise. Over time, should have potential to reach as far as 1,381-1,392. This longer-term target includes 38.2% retrace of the ‘11/’15 decline as well as the target from a declining wedge that developed off the Mar. ’14 high. 

Do with it what you will.