Monthly Archives: October 2016

GOLD Elliott Wave Technical Analysis – 31st October, 2016

A very slight new high was expected before downwards movement.

Price has moved lower, but it did not make a slight new high first.

Continue reading GOLD Elliott Wave Technical Analysis – 31st October, 2016

GOLD Elliott Wave Technical Analysis – 28th October, 2016

Downwards movement was expected for Friday, but this is not what happened.

Upwards movement breached the invalidation point on the main hourly Elliott wave count and was supported by volume.

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SILVER Elliott Wave Technical Analysis – 28th October, 2016

Again, a downwards breakout from a consolidation was expected and has not yet happened.

Price continues sideways within a small range finding support right at the trend line on the daily chart.

Continue reading SILVER Elliott Wave Technical Analysis – 28th October, 2016

GOLD Elliott Wave Technical Analysis – 27th October, 2016

Yesterday’s analysis was summarised with a warning that the consolidation pattern did not look complete.

Another inside day has essentially moved price sideways within a small range continuing the consolidation.

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GOLD Elliott Wave Technical Analysis – 26th October, 2016

A little upwards movement to 1,281 – 1,283 was expected before price turned downwards.

Price did move downwards, but no new high was made first.

Continue reading GOLD Elliott Wave Technical Analysis – 26th October, 2016

GOLD Elliott Wave Technical Analysis – 25th October, 2016

Yesterday’s main Elliott wave count expected downwards movement, but this has not happened.

Classic technical analysis will be used today to judge the probability of the main vs. alternate Elliott wave counts.

Continue reading GOLD Elliott Wave Technical Analysis – 25th October, 2016

US OIL Elliott Wave Technical Analysis – 25th October, 2016

Last analysis was down to only one Elliott wave count as the structure became clearer.

A short term target for a little more upwards movement was at 53.30. Price has reached so far up to 51.93.

Continue reading US OIL Elliott Wave Technical Analysis – 25th October, 2016

GOLD Elliott Wave Technical Analysis – 24th October, 2016

An outside day closes with a red candlestick, which slightly favours the main Elliott wave count.

Both Elliott wave counts remain viable while price remains within the consolidation / invalidation points.

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GOLD Elliott Wave Technical Analysis – 21st October, 2016

Both Elliott wave counts remain viable.

Classic technical analysis continues to support the main Elliott wave count.

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SILVER Elliott Wave Technical Analysis – 20th October, 2016

Last Elliott wave analysis expected downwards movement for both wave counts. This is not what happened. Price has moved slowly higher over the week.

Continue reading SILVER Elliott Wave Technical Analysis – 20th October, 2016

GOLD Elliott Wave Technical Analysis – 20th October, 2016

The Elliott wave counts diverged yesterday.

Price remains within the confirmation / invalidation points.

Classic technical analysis, particularly volume analysis, will be used to judge the probability of each wave count today. Price is the ultimate determinator though.

Continue reading GOLD Elliott Wave Technical Analysis – 20th October, 2016

GOLD Elliott Wave Technical Analysis – 19th October, 2016

Upwards movement was expected from both the main and alternate Elliott wave counts in yesterday’s analysis.

The two Elliott wave counts now diverge. Invalidation and confirmation points will be used to let price tell us which one is correct. And classic technical analysis, particularly volume analysis, will be used to judge the probability of each Elliott wave count.

Continue reading GOLD Elliott Wave Technical Analysis – 19th October, 2016

US OIL Elliott Wave Technical Analysis – 19th October, 2016

Price has moved sideways since last Elliott wave and technical analysis.

Continue reading US OIL Elliott Wave Technical Analysis – 19th October, 2016