by Lara | Jul 9, 2015 | Gold |
Yesterday’s hourly Elliott wave chart expected an impulse down to end and be followed by another second wave correction to find resistance at the upper edge of a channel. This is what happened, with the exception of a small fourth wave not moving higher first....
by Lara | Jul 8, 2015 | Gold |
Yesterday’s hourly Elliott wave chart expected an impulse down to end and be followed by another second wave correction to find resistance at the upper edge of a channel. This is what happened, with the exception of a small fourth wave not moving higher first....
by Lara | Jul 7, 2015 | Gold |
Yesterday’s main Elliott wave count expected a third wave down. Downwards movement is showing an increase in momentum, exactly as the main Elliott wave count expected. Summary: The case for a bearish breakout is strengthened; downwards movement should continue....
by Lara | Jul 6, 2015 | Gold |
Upwards movement was expected for Monday, which is what happened. Summary: It looks like upwards movement may be over for now: a second wave correction looks complete and today’s volume spike indicates the end of this correction. A third wave down may be ready...
by Lara | Jul 5, 2015 | GDX |
I have the same two Elliott wave counts for GDX. I still favour neither. GDX does not appear to have sufficient volume for Elliott wave analysis of this market to be reliable. It exhibits truncations readily, and often its threes look like fives while its fives look...
by Lara | Jul 3, 2015 | Gold |
A small upwards correction was expected for the very short term, which is what is happening as the week comes to a close. Summary: It is likely that Monday will see a little more upwards movement to 1,181 – 1,184. Thereafter, both bull and bear wave counts need...
by Lara | Jul 2, 2015 | Gold |
A little upwards movement was expected to 1,180 before more downwards movement, but this is not what happened. At the daily chart level, a new low below 1,162.80 strongly favours the bear Elliott wave count. Summary: It is increasingly likely that the trend is down....
by Lara | Jul 1, 2015 | Gold |
Price has moved slowly lower on slightly lower volume. This downwards movement looks corrective and fits both bull and bear Elliott wave counts. Summary: In the very short term (next 24 hours) a little upwards movement to 1,180 may complete a small second wave...
by Lara | Jun 30, 2015 | Gold |
It was expected to be most likely that downwards movement would continue, which is what has happened. Price moved lower to complete a red candlestick. Summary: The bull and bear wave counts now diverge strongly: the bear wave count now expects a strong third wave to...
