GOLD Elliott Wave Technical Analysis – 13th March, 2017

Price has moved overall higher as expected from the main hourly Elliott wave count in last analysis. Summary: A little confidence may be had in a trend change, but weak volume and a long upper wick on Monday’s candlestick is concerning. It is possible we may see...

GOLD Elliott Wave Technical Analysis – 6th March, 2017

Price has moved higher but today’s candlestick closed red. There are still at least two hourly Elliott wave counts for the main daily Elliott wave count. The alternate Elliott wave count has reduced in probability. Summary: In the short term, it looks like a...

GOLD Elliott Wave Technical Analysis – 2nd March, 2017

A strong breach of the base channel on the main hourly Elliott wave count shifted probability from bullish to bearish. The alternate Elliott wave count was then preferred because it expected more downwards movement. Summary: The new main wave count expects a deep...

GOLD Elliott Wave Technical Analysis – 1st March, 2017

All three hourly Elliott wave charts yesterday expected some downwards movement to at least 1,240. Thereafter, the main wave count expected a resumption of upwards movement. The low for the session was 1,237.18 and then from there price bounced to close green....

GOLD Elliott Wave Technical Analysis – 28th February, 2017

Some downwards movement was expected from all three hourly Elliott wave charts. Summary: Use the channel on the second hourly chart and the channel on the alternate hourly chart. Assume the upwards trend remains the same while price remains within the channel. The...

GOLD Elliott Wave Technical Analysis – 22nd February, 2017

Gold is still range bound. On Balance Volume today is giving a signal for the next direction for Gold. Summary: Gold has now been range bound for ten sessions. Resistance is at 1,245 and support is at 1,220. A downwards breakout still looks more likely than upwards...

GOLD Elliott Wave Technical Analysis – 17th February, 2017

Price moved higher for Friday’s session, which was not expected but was allowed for. Price remains below the invalidation point on the main hourly Elliott wave count. This week volume and ATR are giving some clues as to what the upwards movement for the last...

GOLD Elliott Wave Technical Analysis – 16th February, 2017

Upwards movement for the main Elliott wave hourly chart was expected to reach a target at 1,240. Price moved higher as expected to reach 1,241.99. Summary: The target for a deep pullback is at 1,148. Corrections along the way down present opportunities to join the...