Category Archives: Gold

GOLD Elliott Wave Technical Analysis – 27th February, 2017

More upwards movement continued to start the new week as the main Elliott wave count expected.

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GOLD Elliott Wave Technical Analysis – 24th February, 2017

Upwards movement continued for Friday as the main wave count expected.

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GOLD Elliott Wave Technical Analysis – 23rd February, 2017

An upwards day with some increase in volume has broken above resistance.

The main Elliott wave count was invalidated and the alternate Elliott wave count was confirmed.

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GOLD Elliott Wave Technical Analysis – 22nd February, 2017

Gold is still range bound.

On Balance Volume today is giving a signal for the next direction for Gold.

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GOLD Elliott Wave Technical Analysis – 21st February, 2017

Gold is still range bound.

Classic analysis, with a heavy reliance on volume analysis, is used to determine probability of the main versus alternate Elliott wave counts today.

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GOLD Elliott Wave Technical Analysis – 20th February, 2017

A lower high and a lower low moved price lower for Monday’s session, which is overall what the main Elliott wave count expected. A public holiday in the USA for Presidents Day saw markets very quiet.

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GOLD Elliott Wave Technical Analysis – 17th February, 2017

Price moved higher for Friday’s session, which was not expected but was allowed for. Price remains below the invalidation point on the main hourly Elliott wave count.

This week volume and ATR are giving some clues as to what the upwards movement for the last three days most likely means.

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GOLD Elliott Wave Technical Analysis – 16th February, 2017

Upwards movement for the main Elliott wave hourly chart was expected to reach a target at 1,240.

Price moved higher as expected to reach 1,241.99.

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GOLD Elliott Wave Technical Analysis – 15th February, 2017

Price made a lower low and lower high today, the definition of downwards movement. Overall, this was expected.

But the session closed green with a strong bounce and that was not expected as the most likely scenario, but it was allowed for.

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GOLD Elliott Wave Technical Analysis – 14th February, 2017

A little upwards movement fits the Elliott wave count.

The first in a series of second wave corrections may now be complete today.

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GOLD Elliott Wave Technical Analysis – 13th February, 2017

Downwards movement continued as expected for Monday’s session.

The main Elliott wave count remains the same. The alternate is slightly adjusted at the hourly chart level.

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GOLD Elliott Wave Technical Analysis – 10th February, 2017

Friday’s session moved price lower as expected.

A strong bounce has found resistance right at the lower edge of a trend channel. This also was expected as reasonably likely behaviour from price.

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GOLD Elliott Wave Technical Analysis – 9th February, 2017

A breach of the trend channel and a new low below 1,227.82 has invalidated the main wave count and confirmed an alternate.

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