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GOLD Elliott Wave Technical Analysis – 28th October, 2014

Downwards movement continued, but fell short of the target at 1,217 by $5.58. Summary: Intermediate wave (2) is unfolding as a big flat correction. Overall I expect more downwards movement to 1,190.04 in the mid term. In the short term I expect to see very choppy...

GOLD Elliott Wave Technical Analysis – 24th October, 2014

A red candlestick for Friday’s session fits the Elliott wave count, but more downwards movement was expected. Summary: Intermediate wave (2) is unfolding as a big flat correction. I expect more downwards movement for a few days to at least 1,190.04. It is...

SILVER Elliott Wave Technical Analysis – 24th October, 2014

Sideways movement has confirmed an end to minor wave 1. Click on charts to enlarge. At this stage it looks like minor wave 2 may be a shallow correction, maybe only reaching up to the 0.382 Fibonacci ratio of minor wave 1 at 18.408. Second waves are most commonly deep...

GDX Elliott Wave Technical Analysis – 24th October, 2014

I am changing the wave count at the daily chart level. I have more confidence in this wave count today. Click charts to enlarge. Sideways movement over the last week or so fits nicely as a barrier triangle. Now minute waves ii and iv are better in proportion, and the...