A small range day continues a small consolidation pattern. The breakout is still expected in the same direction.
A small amount of upwards movement to start the week remains below the short-term invalidation point. Both Elliott wave counts remain valid.
Price continues sideways. Targets remain the same.
For the short term, upwards movement to at least 1,528.20 was expected. The high for Friday at 1,528.68 meets this expectation perfectly.
A little more upwards movement fits the bullish wave count better, but both Elliott wave counts remain valid. Support has held.
The last two sessions have seen price whipsaw within a consolidation zone. Today On Balance Volume gives a reasonable signal. All Elliott wave counts remain valid.
A small range day remains within the trend lines of the pennant pattern. The target remains the same. The breakout is expected within the next one to two sessions.
Price remains range bound. A breakout is expected shortly. Elliott wave counts provide targets.
Today Gold may be in the process of a classic upwards breakout from a multi-year consolidation. If this session closes above 1,374.91 (the July 2016 high) on an upwards day with support from volume, then have confidence in the breakout.
Today I have three Elliott wave counts, all of which are bullish.
A small range day with a long lower wick moves price a little lower. Downwards movement overall was expected from the main Elliott wave count.
Price continues to move sideways. The short-term structure fits the main hourly Elliott wave count best.
Price remains range bound at the end of the week after moving mostly sideways. All Elliott wave counts remain valid.