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Quotes from BofA Merrill Lynch:
- Evidence warns of a near-term bounce in gold. The completing diagonal triangle from the Sep-16 high of 1242, the series of long lower shadows on daily candlesticks and bullish momentum divergences warn of a bounce.
- However, gains must be seen as temporary and likely limited to the 1241/1242 area before the large downtrend resumes for 1180 (Jun-13 2013 low) and below.
