GOLD Elliott Wave Technical Analysis – 27th February, 2017

More upwards movement continued to start the new week as the main Elliott wave count expected. Summary: Use the channel on the second hourly chart and the channel on the alternate hourly chart. Assume the upwards trend remains the same while price remains within the...

GOLD Elliott Wave Technical Analysis – 21st February, 2017

Gold is still range bound. Classic analysis, with a heavy reliance on volume analysis, is used to determine probability of the main versus alternate Elliott wave counts today. Summary: Gold has now been range bound for nine sessions. Resistance is at 1,245 and support...

GOLD Elliott Wave Technical Analysis – 15th November, 2016

Yesterday’s Elliott wave and classic technical analysis expected some sideways / upwards movement for Thursday, which is exactly what happened. Price has found resistance right at the trend line on the daily chart. Summary: A short, quick wave down to a new low...

GOLD Elliott Wave Technical Analysis – 7th October, 2016

More downwards movement is very close now to the second target, which was at 1,240. Summary: There is now evidence of a low in place with divergence between price and RSI and Stochastics, both of which are oversold. A bounce should be expected next week. If it remains...

GOLD Elliott Wave Technical Analysis – 6th October, 2016

The first target for downwards movement has been met. Summary: Downwards movement has met the first target, but there is no evidence yet that downwards movement is over. Volume is weak indicating bears are tired. If the lilac channel can be clearly breached by upwards...

GOLD Elliott Wave Technical Analysis – 23rd August, 2016

Downwards movement was expected. Again, price moved overall sideways to complete a very small daily Gravestone doji. Summary: Price should move a little lower to complete a five wave impulse. The short term target is at 1,315. If price breaks below 1,310, then a...

GOLD Elliott Wave Technical Analysis – 4th July, 2016

The main Elliott wave count from last analysis expected price to move higher, which is what has happened. Summary: At this stage, a third wave up is still the more likely scenario, but it remains possible a deeper second wave correction could be completing first. If a...

GOLD Elliott Wave Technical Analysis – 20th June, 2016

Last analysis expected a counter trend movement to continue. A long legged doji candlestick fits this description. Summary: Minor wave 2 down has begun and should be expected to last a Fibonacci 8, 13 or 21 days in total. The most likely target will be the 0.618...

GOLD Elliott Wave Technical Analysis – 8th January, 2015

Price moved lower as expected. A small candlestick, which may end as a doji for Thursday’s session, fits the Elliott wave count nicely. Summary: Gold is within a consolidation phase which should continue for at least another two days, and maybe another six days...