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Gold Stocks Correct - Just Like in 2008

From goldpriceforecast.com

Another day, another rhyme. Even yesterday’s rebound in gold stocks was just like what we saw in 2008. And that’s just one of the confirmations. I wrote about it in yesterday’s Gold Trading Alert #2, and I provided an extra follow-up in the comments section, but in order to keep it all in one place, here it is again: Meanwhile, gold stocks are moving higher, as well, but… they are moving higher pretty much like they did in 2008. {chart} The HUI Index just moved a bit above the 61.8% Fibonacci retracement based on the initial downswing, and then it declined again, closing the day visibly below it. {chart} Back in ... (full story)

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  • Category: Technical Analysis