PLEASE ZOOM IN ON THE SPECIFIC SCENARIOS TO SEE IT CLEARLY
I fell over a interesting and remarkable coincidence with gold.
In the year 2007/2008 in the pre-crisis stage we saw a 12% gold rally after breaking out of the consolidation Zone. As of now we see the excact same pattern as we did back then.
2007/2008 we see a uptrending megaphone pattern
2019/2020 we see the excact same thing
As of now we are right in the consolidation phase, a break out could lead to a 12% rally to repeat history. if that happens we could potentially see Gold test the upper trendline around 1800$ which is a resistance area from the former tops back in 2012/13.
In 2008 Gold tested the upper trendline before backing down and making lower highs as the stock market was hitting peak euphoria.
Gold fell as much as 30% from the top pre-crisis stage and was also falling when the stock market crash hit the 29th of september in 2008 when The Dow Jones Industrial Average fell 777.68 points in intra-day trading.
Gold made its bottom 3 weeks after the 2008 crisis hit.
After Gold bottomed out, it went on an uptrend over severeal years which brought in a total gain of 183% before coming to an end in September 2011.
If Gold repeats itself we will see the top in around March/April 2020 which will be followed by a 30% decline to 1265$ before going on a seveal year uptrend towards 3600$
Thanks for reading
“Those who don't know history are doomed to repeat it.”
― Edmund Burke