by Lara | Jul 30, 2019 | Gold |
Currently, price is bound by support and resistance. The preferred Elliott wave count sees this consolidation as a B wave that is incomplete. Summary: There remains an upwards trend in place at the weekly chart level. With conditions extreme, a sideways consolidation...
by Lara | Jul 8, 2019 | Gold |
A small range inside day leaves all three Elliott wave counts valid. Summary: A strong downwards day for Friday with a strong push from volume suggests the back test may be incomplete (or the bearish Elliott wave count may be correct). Look out now for another test of...
by Lara | Jun 13, 2019 | Gold |
A bounce was expected to continue higher for one or two sessions, which is so far what has happened. Summary: For the short term, a small bounce may have ended now for minor wave 2 or price may continue higher to 1,349 before turning. A new target is at 1,014....
by Lara | May 22, 2019 | Gold |
A small range inside day leaves all Elliott wave counts essentially the same. Summary: Resistance is about 1,310 and support is about 1,265. A downwards breakout may be more likely. The target would then be at 1,219 (which may not be low enough). However, the target...
by Lara | Apr 30, 2019 | Gold |
The neck line of the Head and Shoulders pattern continues to provide resistance, as does the short-term channel on the hourly chart. The Elliott wave targets remain the same. Summary: Expect the downwards trend to resume. The mid-term Elliott wave target is at 1,220....
by Lara | Apr 8, 2019 | Gold |
A counter trend bounce was expected to end most likely about 1,297 to 1,301. The high for Monday is at 1,303.15, just slightly above the target range. Summary: The downwards trend may now have resumed. A new low below 1,293.90 now would provide confidence that this...
by Lara | Mar 15, 2019 | Gold |
Price remains below the invalidation point and the channel on the daily chart. The Elliott wave count remains the same. Summary: Three long-term targets are now calculated for cycle wave c to end. Confidence in a new downwards trend may be had with a new low below...
by Lara | Feb 21, 2019 | Gold |
The first point looked for to give confidence in the Elliott wave count is now seen in a candlestick reversal pattern. Today completes an Evening Star on the daily chart for Gold. Summary: Today’s Evening Star reversal pattern indicates a high may be in place....
by Lara | Jan 30, 2019 | Gold |
The second target was met and price kept rising. The third and final target may now be used. Summary: The next Elliott wave target is at 1,338. The next classic analysis target is at 1,349. Assume the trend remains the same until proven otherwise. For confidence in a...
