This concept is based on parabolic arc pattern which is very rare and usually occurs in extreme bull markets.
Target for that kind of pattern usually is 0.618 fib retracement.
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if breaks 1120 will go to 1085 - 1045 and than possible to 970 - 890 level where I expect reversal point and resume bull trend.
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SchweizerGeld
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Makes sense, especially due to the fact that it would validate the 1980 peak just above $850. Once there, we could see the continuation of a multi-decade bull market in precious metals. Don't tell anybody, but I'm looking for just such a correction. :)