GOLD Elliott Wave Technical Analysis – 19th May, 2016

More downwards movement was expected to a target at 1,250 for the main Elliott wave count. Price reached 5.65 below the target to reach 1,244.35 during the session. Summary: The main wave count expects upwards movement from here to a short term target at 1,415 and a...

GOLD Elliott Wave Technical Analysis – 4th May, 2016

Price moved lower again as yesterday’s Elliott wave count expected. Summary: The correction now looks to be complete. Price looks like it may be exhibiting a typical throwback to support after an upwards breakout. On Balance Volume may assist to stop the fall in...

GOLD Elliott Wave Technical Analysis – 25th April, 2016

Price is still consolidating. Downwards movement was expected as most likely, but price moved slightly higher on a very quiet day with very light volume. Summary: Gold is still range bound. There are still at least two valid wave counts for this correction and they...

GOLD Elliott Wave Technical Analysis – 11th April, 2016

A new high above 1,243.19 invalidated the main hourly Elliott wave count and confirmed the alternate. At that stage, the target was at 1,256. So far price has reached up to 1,259. Summary: The main wave count must see downwards movement about here, and it is supported...

GOLD Elliott Wave Technical Analysis – 4th April, 2016

The situation remains unclear. Price is range bound. Summary: Price remains range bound. A break above 1,230.82 would indicate more upwards movement to about 1,302 short term, before another downwards swing. Alternatively, a break below 1,208.33 would indicate more...

GOLD Elliott Wave Technical Analysis – 11th March, 2016

Downwards movement was expected for Friday’s session. Summary: The target remains at 1,224. The target may be met in one or two more sessions. New updates to this analysis are in bold. Last published weekly chart is here. DAILY ELLIOTT WAVE COUNT Click chart to...

GOLD Elliott Wave Technical Analysis – 19th February, 2016

To end this week, I still have just the one daily chart but now four hourly wave counts. I will not try to pick a winner. The labelling of 1-2-3-4 is not intended to indicate which is more or less likely. Volume and price next week should tell us which one is correct....

GOLD Elliott Wave Technical Analysis – 25th January, 2016

Upwards movement continues as expected. Summary: The target for the bear wave count remains at 1,135, which may be met in a further seven trading days. The target for the bull wave count is at 1,227 mid term, which may be met in a further nine or thirty trading days....

GOLD Elliott Wave Technical Analysis – 8th December, 2015

A correction was expected to continue. A small inside day fits this expectation. Summary: The structure of this correction is unclear and it will be impossible to accurately predict the pathway price will take to complete it (because it is impossible to predict what...