"As you should hopefully be able to see, the time to purchase gold is when it retraces to the 150 period simple moving average as it has now done 7 times since the start of 2009. No hocus pocus, just simple analysis."
Would be interesting to see a longer term view of this chart. Richard Russell has talked about the importance of 150 day ma for seemingly donkeys years, since early in the bull market.
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- some 'long term' technical analysis
some 'long term' technical analysis, page-10
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