GOLD Elliott Wave Technical Analysis – 1st June, 2017

Downwards movement was expected for Thursday. Price did move lower to complete a red daily candlestick, but it was an inside day with a bullish long lower wick. Summary: A high may again be in place here or very soon indeed. When the new channel on the hourly chart is...

GOLD Elliott Wave Technical Analysis – 28th March, 2017

Downwards movement unfolded for Tuesday’s session as expected. On Balance Volume and the 200 day moving average were enough to turn price down. A new low below 1,252.75 added a little confidence to the expectation. Summary: A pullback to about 1,230 may...

GOLD Elliott Wave Technical Analysis – 23rd March, 2017

A slight new high was not expected but was allowed for. Thereafter, price has turned downwards to breach the channel on the hourly chart. Summary: Another pullback looks most likely to have begun today. The target is about 1,217; but if this is wrong, it may be too...

GOLD Elliott Wave Technical Analysis – 22nd March, 2017

The target was at 1,253. So far price has reached 1,251.21, just 1.79 short of the target. Summary: A Gravestone Doji on BarChart data, a decline in volume, overbought Stochastics, and a complete five wave structure for the Elliott wave count all point today to this...

GOLD Elliott Wave Technical Analysis – 14th February, 2017

A little upwards movement fits the Elliott wave count. The first in a series of second wave corrections may now be complete today. Summary: The target for a deep pullback is at 1,148. Follow my two Golden Rules of risk management: 1. Always use a stop. 2. Invest no...

GOLD Elliott Wave Technical Analysis – 1st February, 2017

A new low below 1,202.92 invalidated the alternate hourly Elliott wave count and added confidence to the main hourly Elliott wave count. Summary: The target for this next wave down to end is at 1,154. If a new high above 1,214.91 is seen, then expect some more upwards...

GOLD Elliott Wave Technical Analysis – 12th December, 2016

In the short term, downwards movement was expected to a target at 1,156 – 1,154. Price moved lower to 1,152 before turning up to complete a green daily candlestick. Summary: Upwards movement is expected for about three days to 1,187, and that may complete a...

GOLD Elliott Wave Technical Analysis – 8th November, 2016

Downwards movement unfolded and remains above the invalidation point. Summary: The picture is less clear today. But the invalidation point is very close by, so we may have clarity soon. Assume the trend most likely remains upwards while price remains above 1,264.72....

GOLD Elliott Wave Technical Analysis – 7th November, 2016

A slight new high was expected before a sideways consolidation began. No slight new high was seen. Price has moved lower. So far price remains above the invalidation point and tightly contained within a channel. Summary: A fourth wave correction is likely over now....