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GOLD Elliott Wave Technical Analysis – 30th December, 2013

The main hourly wave count for last analysis expected downwards movement to begin the new trading week which is exactly what happened. This main wave count had a higher probability than the alternate. This main wave count still has a higher probability, and I will...

GOLD Elliott Wave Technical Analysis – 27th December, 2013

Last analysis expected a fourth wave correction may have been complete. A trend channel was provided for confirmation. We did not get confirmation and price moved higher, remaining just below the invalidation point. The wave count is mostly the same. Click on the...

GOLD Elliott Wave Technical Analysis – 26th December, 2013

Last analysis expected a continuation of a fourth wave correction, with two hourly charts for two possible structures. The triangle was invalidated and this fourth wave subdivides nicely as a double zigzag, which may now be complete. Click on the charts below to...

GOLD Elliott Wave Technical Analysis – 23rd December, 2013

Last analysis expected a little more upwards movement towards a short term target at 1,210 before price turned lower. This is not what happened. Last analysis stated that if Monday produced a red candlestick that the current fourth wave correction would be unlikely to...

GOLD Elliott Wave Technical Analysis – 20th December, 2013

The short term target for Friday was 1,180. Price fell short of the target reaching only 1,187.36. Downwards movement ended perfectly at the lower edge of the pink parallel channel on the daily and hourly chart. The wave count remains the same. Click on the charts...

GOLD Elliott Wave Technical Analysis – 19th December, 2013

Yesterday’s short term target at 1,205 has been comfortably passed, and at the time of publication price is 13.67 below the target. The wave count remains the same. Click on the charts below to enlarge. Gold is still within a large fourth wave correction at...

US OIL Elliott Wave Technical Analysis – 17th December, 2013

Last analysis expected more downwards movement towards a short term target at 96.49. Downwards movement reached 96.21. Price turned upwards from there. The wave count is the same. Click on the charts below to enlarge. The bigger picture sees US Oil in a new downwards...