by Peter Cooper, Gold Seek:
Does the gold price still have to go to hell-and-back before it shoots very much higher? That’s certainly the opinion of many professional technical analysts and followers of the Elliott Wave theory.
Elliott Wave theorists can point to some impressive past predictions. Then again they’ve had some real howlers. Remember the 2010 prediction of a huge crash in stocks (click here)? It never happened.
So when these guys confidently assert that gold ‘must’ still drop to $900 or at least below $1,000 before it can enter a new bull market, who are we to believe? At least a savvy investor like Jim Rogers says he thinks this may happen but he’s already holding a lot of gold just in case of being wrong, again.
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