GOLD Elliott Wave Technical Analysis – 21st March, 2017

A fourth wave correction ended right at the lower edge of the Elliott channel and from there price bounced up to make new highs for a fifth wave. Summary: Assume the trend remains the same until proven otherwise. Assume price will keep going up while price remains...

GOLD Elliott Wave Technical Analysis – 13th February, 2017

Downwards movement continued as expected for Monday’s session. The main Elliott wave count remains the same. The alternate is slightly adjusted at the hourly chart level. Summary: The target for a deep pullback is at 1,148. Follow my two Golden Rules of risk...

GOLD Elliott Wave Technical Analysis – 29th November, 2016

Upwards movement was expected, but this is not what has happened. Price has moved mostly sideways to complete a small red doji and remains above the invalidation point on the hourly chart. Summary: The target for a six month long wave up is 1,500 and some confidence...

GOLD Elliott Wave Technical Analysis – 20th October, 2016

The Elliott wave counts diverged yesterday. Price remains within the confirmation / invalidation points. Classic technical analysis, particularly volume analysis, will be used to judge the probability of each wave count today. Price is the ultimate determinator...

GOLD Elliott Wave Technical Analysis – 6th September, 2016

A short term move lower to 1,311 – 1,312 was expected before more upwards movement. Price has moved higher. Summary: Look out now for surprises to the upside. A small sideways correction may unfold remaining above 1,327.30. The target for the Elliott wave count...

GOLD Elliott Wave Technical Analysis – 7th July, 2016

Upwards movement was expected as most likely from the main Elliott wave count. The alternate expected a little downwards movement. Summary: The trend is up. Corrections present an opportunity to join the trend. Expect upwards momentum to increase in coming weeks. The...

GOLD Elliott Wave Technical Analysis – 2nd February, 2016

A little more upwards movement was expected. Price has moved slightly higher. Summary: Price is squeezed between the final bear market trend line and a short term support line (now coloured green on all charts for clarity). A break above the cyan line or below the...

GOLD Elliott Wave Technical Analysis – 22nd January, 2016

Upwards movement was expected. Price moved sideways in a small range to complete a very small red candlestick. Price remains above the invalidation point and is hugging the support line. Summary: The target for the bear wave count remains 1,135. The target for the...

GOLD Elliott Wave Technical Analysis – 21st January, 2015

Both Elliott wave counts expected a trend change, but upwards movement has continued. This changes the probability of these two Elliott wave counts. Summary: Both the main and alternate daily wave counts still expect downwards movement from here, and both expect a...