Tag Archives: gold forecast

GOLD Elliott Wave Technical Analysis – 20th March, 2017

Sideways movement was again expected for Monday’s session. Price moved slowly higher in a small range, mostly fitting expectations.

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GOLD Elliott Wave Technical Analysis – 6th March, 2017

Price has moved higher but today’s candlestick closed red.

There are still at least two hourly Elliott wave counts for the main daily Elliott wave count. The alternate Elliott wave count has reduced in probability.

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GOLD Elliott Wave Technical Analysis – 2nd March, 2017

A strong breach of the base channel on the main hourly Elliott wave count shifted probability from bullish to bearish. The alternate Elliott wave count was then preferred because it expected more downwards movement.

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GOLD Elliott Wave Technical Analysis – 1st March, 2017

All three hourly Elliott wave charts yesterday expected some downwards movement to at least 1,240. Thereafter, the main wave count expected a resumption of upwards movement.

The low for the session was 1,237.18 and then from there price bounced to close green.

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GOLD Elliott Wave Technical Analysis – 31st January, 2017

Downwards movement was expected for Tuesday but did not happen.

Price has moved higher but remains below the invalidation point on the hourly Elliott wave count.

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GOLD Elliott Wave Technical Analysis – 24th January, 2017

A small downwards day remains above the invalidation point on the main hourly Elliott wave count.

So far price continues to find support at the lower edge of the channel.

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GOLD Elliott Wave Technical Analysis – 16th December, 2016

A small inside day sees upwards movement. Price remains below the invalidation point.

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GOLD Elliott Wave Technical Analysis – 16th November, 2016

Sideways movement continues but downwards movement was expected.

The session did close with a red daily candlestick, but a new low was not made.

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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.

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GOLD Elliott Wave Technical Analysis – 18th October, 2016

Upwards movement invalidated the Elliott wave triangle leaving only a combination possible for the correction. With only one hourly Elliott wave count left, the structure is now clearer.

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GOLD Elliott Wave Technical Analysis – 17th October, 2016

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

Price moved mostly sideways, and a small inside day closed green.

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