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The rebound is labelled as a wave (3)-2, which will be followed by a sharp downward wave (3)-3, with a target at $2,029, the 161.8 percent Fibonacci projection level, based on the length of the wave (1) and the peak of the wave (2) at $2,165.
From a longer perspective, the metal is consolidating within a big triangle, which will be confirmed bearish, once the lower trendline support at $2,077.75 is broken.
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