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GOLD Elliott Wave Technical Analysis – 9th May, 2014

Last analysis expected to see more sideways movement before the downwards trend resumed. This is mostly what happened. When price breaks below 1,273.43 I will have full confidence in this wave count and the target. Summary: The target for downwards movement to end is...

GOLD Elliott Wave Technical Analysis – 10th February, 2014

Again upwards movement was expected. New highs and an increase in momentum were expected, and this is exactly what happened. The wave count remains the same. Summary: At this stage price should continue to move higher and may show a further increase in momentum. The...

GOLD Elliott Wave Technical Analysis – 20th December, 2013

The short term target for Friday was 1,180. Price fell short of the target reaching only 1,187.36. Downwards movement ended perfectly at the lower edge of the pink parallel channel on the daily and hourly chart. The wave count remains the same. Click on the charts...

GOLD Elliott Wave Technical Analysis – 11th November, 2013

End of week analysis expected the new week to begin with sideways and a little upwards movement towards 1,293.62, before one more wave downwards. Price has moved sideways and slightly lower. This fourth wave correction may be completing a triangle or a flat, and the...

GOLD Elliott Wave Technical Analysis – 8th November, 2013

Thursday’s analysis expected sideways movement to end about 1,314.96, followed by strong downwards movement as a third wave began. Price moved sideways to reach 1,313.93 then turned downwards strongly. Downwards momentum has increased as expected. The wave count...

GOLD Elliott Wave Technical Analysis – 30th October, 2013

Movement below 1,340.90 invalidated yesterday’s hourly wave count. I have gone back and re-analysed this recent upwards movement from 1,251.76 because something else must be happening. The wave count at the daily chart level remains mostly the same. I have two...