GOLD Elliott Wave Technical Analysis – 4th August, 2016

A correction was expected to unfold, which is what has happened, but it was expected to be over more quickly though. Summary: The trend is up. The target remains at 1,582. Corrections are an opportunity to join the trend. Invest no more than 3-5% of equity on any one...

GOLD Elliott Wave Technical Analysis – 21st July, 2016

The targets were not met before price turned and moved higher. Downwards targets for the correction to end were inadequate. Summary: The correction looks like it is over. A short term target for a strong third wave up is at 1,515. New updates to this analysis are in...

GOLD Elliott Wave Technical Analysis – 1st July, 2016

Upwards movement invalidated the main hourly Elliott wave count increasing the probability of the two alternates, both of which expected price to move higher. Summary: Probability has shifted to a third wave up being underway. The mid term target remains at 1,437....

GOLD Elliott Wave Technical Analysis – 2nd June, 2016

Sideways movement was expected. A red candlestick with a small real body fits expectations for the session. Summary: Another one to two days of sideways movement is expected at this stage, followed by a short sharp thrust lower to support at 1,190 or the target at...

GOLD Elliott Wave Technical Analysis – 9th May, 2016

Upwards movement was expected for Monday’s session but did not happen. The hourly Elliott wave count was invalidated by downwards movement. Summary: Volume still supports a bullish wave count. Upwards movement should continue from here or very soon. The target...

GOLD Elliott Wave Technical Analysis – 15th April, 2016

The main Elliott wave count expected a small bounce to be followed by more downwards movement. The bounce was longer lasting and a little deeper than expected. This changes the wave count short term but not mid term. Summary: A new low below 1,209.08 would confirm the...

GOLD Elliott Wave Technical Analysis – 24th March, 2016

Both Elliott wave counts remain valid. Price should indicate which one is correct in the next one or two sessions. Summary: It is most likely price will continue sideways for one to two sessions before resuming a downwards trend. If price breaks below 1,212.72 at any...

GOLD Elliott Wave Technical Analysis – 2nd March, 2016

Upwards movement was expected from last analysis, but this looks to be too weak to be a breakout. Summary: One final short wave down to about 1,220 should complete a fourth wave triangle. The next move for Gold should be a short sharp thrust up and out of the triangle...

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...