GOLD Elliott Wave Technical Analysis – 7th January, 2016

Price has broken out of a consolidation upwards. Summary: Short term a third wave may end about 1,113 (if this target is wrong, it may not be high enough). Thereafter, a fourth wave correction should move sideways for a few days and be followed by more upwards...

GOLD Elliott Wave Technical Analysis – 11th December, 2015

The correction continues as expected. Summary: There is still more than one possible structure which may be unfolding for this correction, but what is clear is that the correction is still very unlikely to be over. It may now continue for three more days to total a...

GOLD Elliott Wave Technical Analysis – 26th November, 2015

Slow sideways movement was expected. I have a new hourly Elliott wave count today which fits recent movement perfectly. Summary: A triangle is most likely completing for a B wave. When it is done price should move strongly higher for a short sharp C wave to end above...

GOLD Elliott Wave Technical Analysis – 24th November, 2015

A correction was expected to most likely continue, which is what has happened. Summary: A new high above 1,088.22 would provide confidence that this correction is not over, which at this stage is very likely. The target remains at 1,101 – 1,103. A new low below...

GOLD Elliott Wave Technical Analysis – 13th November, 2015

A small inside day leaves both Elliott wave counts valid. Summary: It is more likely that a second wave correction will unfold upwards from here to about 1,118 or 1,145 (less likely). This would be confirmed with a new high above 1,095.89. To see weekly charts click...

GOLD Elliott Wave Technical Analysis – 5th November, 2015

More downwards movement was expected. Only one wave count is left now. Summary: Only the bear wave count is left. One by one all bull wave counts have been invalidated. Gold has been in a bear market since September 2011 and there is no technical confirmation of a...

GOLD Elliott Wave Technical Analysis – 28th October, 2015

Downwards movement was expected, but price breached the invalidation point on the hourly chart first providing much confusion with the wave count. Summary: In the mid term, downwards movement should continue to at least 1,144. In the short term, a retracement of...

GOLD Elliott Wave Technical Analysis – 19th October, 2015

Sideways movement was expected for Monday. Price has moved lower, not sideways, remaining just above the invalidation point on the hourly chart. Summary: Upwards movement is expected to 1,198 – 1,202. The target may be met in one to three days time. Overall, all...

GOLD Elliott Wave Technical Analysis – 15th September, 2015

A small red candlestick on light volume indicates a correction unfolded during Tuesday’s session. Price still has not clarified the situation, and both bull and bear Elliott wave counts remain valid. Summary: The bear wave count expects downwards movement to...