GOLD Elliott Wave Technical Analysis – 6th January, 2016

The short term target for some more upwards movement at 1,091 was reached and passed so far by 3.9. Summary: The main Elliott wave count now expects downwards movement, but classic technical analysis remains bullish. It would be wise to wait for price to confirm a...

GOLD Elliott Wave Technical Analysis – 5th January, 2016

A small inside day fits both hourly Elliott wave counts, which remain the same. Summary: The correction is still most likely to end sooner rather than later. It may end with a final push up to a short term target at 1,091. In the short term, a new high reasonably...

GOLD Elliott Wave Technical Analysis – 16th December, 2015

An upwards day was expected. Summary: The correction is very close to completion, but it has not managed to complete in a Fibonacci thirteen days. The target for choppy overlapping upwards movement remains the same at 1,090. It may now be met in one to three days...

GOLD Elliott Wave Technical Analysis – 30th November, 2015

An upwards correction was expected to begin this week. Monday is completing a green daily candlestick which fits the Elliott wave count perfectly. Summary: This second wave correction may last a total Fibonacci 13 or 21 days. It would most likely end about the 0.382...

GOLD Elliott Wave Technical Analysis – 9th November, 2015

The third hourly Elliott wave count is confirmed by a green daily candlestick. Summary: A fourth wave correction has most likely arrived. It may continue for at least another two days to last a total Fibonacci three days. If it does not end in three days total, then...

GOLD Elliott Wave Technical Analysis – 22nd October, 2015

Again, upwards movement was expected but did not happen. Price moved slightly lower to make a new low just 1.2 below the prior day’s low and complete a small red doji. Summary: A new high above 1,174.51 is required to have confidence that upwards movement shall...

GOLD Elliott Wave Technical Analysis – 12th October, 2015

Both Elliott wave counts had a short term target at 1,165 for a little upwards movement for Monday. Price moved higher, reaching 1,169.15 before turning down for the session. Summary: The bear wave count must now substantially reduce in probability, so the bull wave...

GOLD Elliott Wave Technical Analysis – 6th October, 2015

Upwards movement was expected by the bull Elliott wave count overall, but the pathway there was not what was expected. Price still has not invalidated or confirmed either Elliott wave count. Summary: It looks most likely we shall see some downwards movement from here....

GOLD Elliott Wave Technical Analysis – 28th September, 2015

Both Elliott wave counts expected overall downwards movement to begin the new week. Summary: The bear wave count expects downwards movement to about 1,121 to complete a five wave impulse, to be followed by a three wave correction upwards which may not move above...