Gold: A 61.8% Retracement Has Historical Precedent
From 1975-1976 gold retraced 58% of its initial bull market run and returned to its original bull market trend line. We all know what happened next. After the initial bulls were shaken out, the real move began.
History doesn't repeat but it often rhymes and markets leave the general public in the dust.
Note: I had to cobble together two separate historical charts to come up with this graphic.
Tags: gold
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