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 February, 2017

Another upwards day sees the main and alternate Elliott wave counts switched over. What is now the alternate Elliott wave count still remains viable. It illustrates the risk today to trading based upon the main Elliott wave count. Summary: Probability has shifted...

GOLD Elliott Wave Technical Analysis – 21st December, 2016

A small inside day fits the preferred expectations for Gold, but all Elliott wave counts still remain valid. Targets remain the same. Summary: It still looks like another new low may unfold before Gold either turns or begins a time consuming consolidation. The target...

GOLD Elliott Wave Technical Analysis – 23rd November, 2016

The main Elliott wave count was invalidated with a new low below 1,204.05, and the target at 1,203 was inadequate for the alternate Elliott wave count. Summary: Another strong downwards day has support from volume, and indicators suggest the trend is down. A new low...

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 – 1st November, 2016

The main Elliott wave count expected downwards movement and the alternate expected upwards movement. A new high above 1,283.63 has favoured what was yesterday’s alternate wave count. Summary: The probability that Gold is in a bullish trend has increased. If...

GOLD Elliott Wave Technical Analysis – 23rd September, 2016

Upwards movement was expected for Friday. Price moved sideways to complete a small inside day and a green candlestick. Summary: The trend is still up. Monday may move mostly sideways; after a small consolidation is complete, then a new high is expected. Afterwards,...