Upwards movement for Friday’s session has found resistance right at the lower trend line of the symmetrical triangle.
Volume analysis is used to determine the most likely Elliott wave count of four possibilities.
Continue reading GOLD Elliott Wave Technical Analysis – 22nd December, 2017
Members were advised in last Elliott wave analysis that price may move lower in the very short term to test support at a trend line, which was given on hourly charts. Thereafter, price was expected to turn upwards. This is what has happened. Price moved strongly lower, coming very close to the trend line, before turning upwards.
Members were advised that this should be used as an entry opportunity for long positions. These positions should now be profitable.
Continue reading GOLD Elliott Wave Technical Analysis – 14th November, 2017
Upwards movement was expected after last analysis, which so far is what is happening.
Continue reading GOLD Elliott Wave Technical Analysis – 25th October, 2017
An upwards day was expected, but this is not what happened.
Two hourly Elliott wave counts are used today.
Continue reading GOLD Elliott Wave Technical Analysis – 2nd August, 2017
Upwards movement has continued as the main Elliott wave count expected.
Continue reading GOLD Elliott Wave Technical Analysis – 23rd June, 2017
Downwards movement remained just above the invalidation point on the daily chart. The target is adjusted.
Continue reading GOLD Elliott Wave Technical Analysis – 8th June, 2017
Recent price behaviour and volume suggest the alternate Elliott wave count from last analysis has a higher probability, so in today’s analysis it is now the main wave count.
Continue reading GOLD Elliott Wave Technical Analysis – 28th April, 2017
Yesterday’s analysis expected another shallow correction to continue sideways. This is mostly what has happened. Price bounced up almost exactly at the lower edge of the channel on the hourly chart, where support was expected as fairly likely.
Continue reading GOLD Elliott Wave Technical Analysis – 18th April, 2017
Upwards movement continued for Friday as the main wave count expected.
Continue reading GOLD Elliott Wave Technical Analysis – 24th February, 2017
Upwards movement was expected for Monday’s session.
The target on the hourly Elliott wave count is not yet met, so the analysis today will focus on whether or not this bounce is complete.
Continue reading GOLD Elliott Wave Technical Analysis – 30th January, 2017
Upwards movement continued to the target on the main hourly Elliott wave count.
Continue reading GOLD Elliott Wave Technical Analysis – 17th January, 2017