GOLD Elliott Wave Technical Analysis – 23rd October, 2017

With an invalidation of the main hourly Elliott wave count below 1,276.10, the alternate hourly Elliott wave count now has confidence. Summary: A consolidation for a B wave should complete this week. Short term upwards movement should reach a minimum of 1,302.74....

GOLD Elliott Wave Technical Analysis – 20th April, 2017

A small inside day completes and fits expectations for a correction to continue. Summary: The correction is still most likely incomplete. It may continue further for yet another one to few days. Thereafter, the upwards trend should resume. The target for long...

GOLD Elliott Wave Technical Analysis – 17th April, 2017

A shallow consolidation was expected for Friday and Monday. Monday completes a doji, which is essentially sideways movement, as expected. Summary: In the short term, a shallow consolidation may unfold for Friday and Monday while NYSE is closed for Easter. Thereafter,...

GOLD Elliott Wave Technical Analysis – 7th April, 2017

A strong upwards movement was expected on Friday. This is what happened, but then price reversed and retraced almost all of the upwards movement. Summary: On Balance Volume at the daily and possibly also weekly chart levels gives bullish signals for Gold. This should...

GOLD Elliott Wave Technical Analysis – 23rd March, 2017

A slight new high was not expected but was allowed for. Thereafter, price has turned downwards to breach the channel on the hourly chart. Summary: Another pullback looks most likely to have begun today. The target is about 1,217; but if this is wrong, it may be too...

GOLD Elliott Wave Technical Analysis – 22nd March, 2017

The target was at 1,253. So far price has reached 1,251.21, just 1.79 short of the target. Summary: A Gravestone Doji on BarChart data, a decline in volume, overbought Stochastics, and a complete five wave structure for the Elliott wave count all point today to this...

GOLD Elliott Wave Technical Analysis – 21st March, 2017

A fourth wave correction ended right at the lower edge of the Elliott channel and from there price bounced up to make new highs for a fifth wave. Summary: Assume the trend remains the same until proven otherwise. Assume price will keep going up while price remains...

GOLD Elliott Wave Technical Analysis – 17th March, 2017

Sideways movement was expected for Friday. An inside day perfectly fits expectations. Summary: A small fourth wave correction may now continue sideways over another one to few days and should remain above 1,211.06. When the correction is complete, then a target for...

GOLD Elliott Wave Technical Analysis – 14th March, 2017

Price has moved lower which was allowed for but not what was expected. Price remains above the invalidation point on the hourly chart. Summary: A little confidence may be had in a trend change, but hesitancy in price at the start of a possible new trend is concerning....