GOLD Elliott Wave Technical Analysis – 10th August, 2017

The target at 1,279 was expected to be a little low. A trend line higher up was expected to halt upwards movement. However, this is not what has happened, and the trend line is overshot. The main Elliott wave count is changed today. Summary: An upwards trend now looks...

GOLD Elliott Wave Technical Analysis – 17th July, 2017

The bounce has continued as the alternate hourly Elliott wave count expected. Summary: There is very strong resistance close by at 1,236.50 which price may not be able to overcome. This is still expected to be a counter trend bounce that presents an opportunity to...

GOLD Elliott Wave Technical Analysis – 29th May, 2017

A small range inside day saw price move slowly sideways. Summary: In the short term, a new low below 1,259.61 prior to a new high would add confidence in a trend change back to down. At that stage, the target would be 1,140 although this may be too low. A new high...

GOLD Elliott Wave Technical Analysis – 15th May, 2017

Upwards movement was expected for Monday to a target at 1,235 – 1,236. The high for Monday was 1,236.88. Summary: A new high above 1,236.88 would indicate the short term upwards trend is still intact and the target would then be at 1,245. In the short term, a...

GOLD Elliott Wave Technical Analysis – 3rd April, 2017

Upwards movement was expected for the main Elliott wave count. A new alternate is provided today at the hourly chart level in response to volume analysis for Monday’s session. Summary: It is very concerning that volume today and for Friday does not support...

GOLD Elliott Wave Technical Analysis – 16th March, 2017

More upwards movement was expected from last analysis. This is what has happened. Summary: A small fourth wave correction may now unfold sideways over one to three days and should remain above 1,211.06. When the correction is complete, then a target for the fifth wave...

GOLD Elliott Wave Technical Analysis – 10th February, 2017

Friday’s session moved price lower as expected. A strong bounce has found resistance right at the lower edge of a trend channel. This also was expected as reasonably likely behaviour from price. Summary: Probability has shifted back to a deep pullback beginning...

GOLD Elliott Wave Technical Analysis – 2nd February, 2017

Two hourly Elliott wave counts look at two possible scenarios for the next session. Summary: The target for this next wave down to end is at 1,164 – 1,160. First, a breach of the Elliott channel on the hourly charts is required for any confidence in a high. A...