GOLD Elliott Wave Technical Analysis – 11th May, 2017

Last analysis expected upwards movement as fairly likely. This is what has happened. Targets are the same. Summary: GDX has a low in place and it looks increasingly like Gold does too. Targets for minor wave B are either 1,245 or 1,264, and these are equally as...

GOLD Elliott Wave Technical Analysis – 2nd May, 2017

Price moved slightly lower, which was not what the main wave count expected, but it was allowed for. No confirmation of a trend change has yet been seen. Summary: The upwards trend should resume here or very soon. Confidence may be had in this expectation if price...

GOLD Elliott Wave Technical Analysis – 10th April, 2017

The breakout from a consolidation zone has still not happened. The longer price coils between support and resistance, the more violent the breakout will be. Summary: On Balance Volume at the daily and possibly also weekly chart levels gives bullish signals for Gold....

GOLD Elliott Wave Technical Analysis – 5th April, 2017

Upwards movement was expected. Price moved lower, but has rebounded strongly after the session closed. Downwards movement remained above the invalidation point on the hourly chart. Summary: Look out for strong upwards movement from both Gold and GDX, which may still...

GOLD Elliott Wave Technical Analysis – 29th March, 2017

Another downwards day for Wednesday overall was expected. The main Elliott wave count remains the same and is still preferred over the alternate. Summary: A pullback to about 1,230 may continue. The target may be reached now in another 4 days time. New updates to this...

GOLD Elliott Wave Technical Analysis – 7th February, 2017

A small range inside day fits both Elliott wave counts, but the situation is no clearer. Summary: If we expect the most common scenario to unfold, then we should be right more often than wrong. We will still be wrong sometimes, alternates are still possible, but this...

GOLD Elliott Wave Technical Analysis – 3rd February, 2017

An inside day for Friday’s session leaves both Elliott wave counts valid. Classic technical analysis may assist to determine whether the main or alternate Elliott wave count is correct. Summary: Use the pink channel on the hourly charts. A break below would...

GOLD Elliott Wave Technical Analysis – 31st January, 2017

Downwards movement was expected for Tuesday but did not happen. Price has moved higher but remains below the invalidation point on the hourly Elliott wave count. Summary: A new low below 1,202.90 would add confidence that the downwards pullback has resumed. The next...