Gold: Beware of a Cartel Trap

We got our second test of the intermediate uptrend line this morning.  Gold has bounced again and I'm gonna caution again that almost all intermediate cycle declines unfold at least as an ABC pattern, so you get an A wave down, a bounce B wave bounce and then a C wave down, and I want to caution people that very often the banking cartel will construct the B wave to where it looks really convincing, to draw in early buyers, and then that is fuel to power the the C wave...

********