GOLD Elliott Wave Technical Analysis – 29th August, 2017

Price has reacted strongly downwards after moving slightly higher to perfectly touch the long term bear market trend line, which was expected. A red daily candlestick was printed as expected. Summary: Assume the trend remains the same until proven otherwise. Assume...

GOLD Elliott Wave Technical Analysis – 24th August, 2017

Another small range inside day suggests a small Pennant may be forming. A new Elliott wave count sees a possible triangle completing. Summary: The breakout for the short term is expected to be upwards after sideways movement ends. It may end before 1,317.52, or it may...

GOLD Elliott Wave Technical Analysis – 14th June, 2017

A bounce was expected to end about 1,281. The high for Wednesday’s session fell just 1.94 short of this target to reach 1,279.06. Strong downwards movement was expected following the bounce. Summary: A small third wave down may be beginning. Stops for short...

GOLD Elliott Wave Technical Analysis – 1st June, 2017

Downwards movement was expected for Thursday. Price did move lower to complete a red daily candlestick, but it was an inside day with a bullish long lower wick. Summary: A high may again be in place here or very soon indeed. When the new channel on the hourly chart is...

GOLD Elliott Wave Technical Analysis – 23rd May, 2017

Sideways or slowly higher movement was expected. Tuesday has completed an outside day and Gold appears to be developing a small trading range with resistance about 1,265 and support about 1,245. Summary: Price is consolidating. Another one to few days of sideways...

GOLD Elliott Wave Technical Analysis – 18th May, 2017

A downwards day, which was expected as most likely, followed the blow off top. Summary: It may be slightly more likely that price may move sideways and slowly higher towards 1,276 (the target may be too high). Alternatively, a high may be in place now and this would...

GOLD Elliott Wave Technical Analysis – 15th May, 2017

Upwards movement was expected for Monday to a target at 1,235 – 1,236. The high for Monday was 1,236.88. Summary: A new high above 1,236.88 would indicate the short term upwards trend is still intact and the target would then be at 1,245. In the short term, a...

GOLD Elliott Wave Technical Analysis – 10th May, 2017

A small inside day indicates a small consolidation. Today’s candlestick completes a Harami reversal pattern, but this is not a strong reversal pattern though. An alternate Elliott wave count is provided. Summary: If GDX is again to lead Gold price, then Gold...