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I dumped almost all my precious metals puts/shorts yesterday based on the $XAU hitting both its Fib fan and its Fib resistance. This is another beautiful example of technical analysis in action. I've tinted the convergence area. So what to do now? I'm not sure, but I might consider getting back in on the short side if this retraces to $128.70. As ridiculous as the bid/ask spread is on the XAU, it turned out to be a fantastic trade.
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