by Lara | Jul 26, 2017 | Gold |
A pullback was expected when price made a new low below 1,244.28, but it was expected to be a little deeper though: price fell $6 short of the first target at 1,238. The overall trend remains up, which still fits the Elliott wave count. Summary: For now the trend is...
by Lara | Apr 17, 2017 | Gold |
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,...
by Lara | Mar 6, 2017 | Gold |
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...
by Lara | Mar 2, 2017 | Gold |
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...
by Lara | Mar 1, 2017 | Gold |
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....
by Lara | Feb 22, 2017 | Gold |
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...
by Lara | Nov 16, 2016 | Gold |
Sideways movement continues but downwards movement was expected. The session did close with a red daily candlestick, but a new low was not made. Summary: A short, quick wave down to a new low may unfold here. If price remains below 1,232.48 in the short term and moves...
by Lara | Oct 18, 2016 | Gold |
Upwards movement invalidated the Elliott wave triangle leaving only a combination possible for the correction. With only one hourly Elliott wave count left, the structure is now clearer. Summary: More upwards movement is expected at least short term. If upwards...
by Lara | Oct 17, 2016 | Gold |
Downwards movement was expected for Monday, but this is not what happened. Price moved mostly sideways, and a small inside day closed green. Summary: A small consolidation is completing, which may be an Elliott wave triangle or a multiple. The classic pattern...