GOLD Elliott Wave Technical Analysis – 10th March, 2017

Price moved into the target zone, which was 1,197 to 1,192, and then turned upwards to print a green daily candlestick. Summary: Allow for the possibility of new lows while price remains within the channel. The next target is now at 1,193 – 1,192. If the...

GOLD Elliott Wave Technical Analysis – 23rd February, 2017

An upwards day with some increase in volume has broken above resistance. The main Elliott wave count was invalidated and the alternate Elliott wave count was confirmed. Summary: An upwards breakout has some support from volume, but there is enough concern that it may...

GOLD Elliott Wave Technical Analysis – 8th December, 2016

Sideways movement was expected. In the short term, some downwards movement within a consolidation was expected for the session, and this is what has happened. Summary: At this stage, it looks more likely that Gold is within a sideways consolidation that may last a...

GOLD Elliott Wave Technical Analysis – 7th December, 2016

Price has moved higher to complete a green daily candlestick, as expected for the main Elliott wave count, but so far it is concerning that volume has not supported this movement. Summary: At this stage, it looks more likely that Gold has just begun a sideways...

GOLD Elliott Wave Technical Analysis – 17th November, 2016

A short, quick downwards wave was expected for Thursday’s session. A red daily candlestick fits this expectation. Summary: Look out for a trend change for Gold and the start of a new upwards wave to new highs, which may last about six months. The target for...

GOLD Elliott Wave Technical Analysis – 12th September, 2016

A little more downwards movement was expected for Monday to a small target zone at 1,319 – 1,322. The low for Monday is at 1,320.94, right in the target zone. Summary: Price should turn upwards as an upwards trend develops. Range and volatility are expected to...

GOLD Elliott Wave Technical Analysis – 25th August, 2016

Downwards movement unfolded exactly as expected. Summary: The main and alternate wave counts today are judged to have a close to even probability. Classic technical analysis today favours the alternate and more downwards movement. A new low below 1,310.84 would...

GOLD Elliott Wave Technical Analysis – 13th July, 2016

Upwards movement confirmed the main Elliott wave count and invalidated the alternate. I have three daily and hourly Elliott wave counts today. Summary: The trend is still up. Corrections are still an opportunity to join the trend. The long term target remains the same...

GOLD Elliott Wave Technical Analysis – 22nd June, 2016

Sideways / downwards movement continued as expected towards the target. Summary: Minor wave 2 could possibly be over in one more day, but more likely it will continue for a further four, nine or seventeen days. The target remains at 1,244. New updates to this analysis...