by Lara | Jul 12, 2017 | Gold |
A new high above 1,222.72 invalidated the main hourly Elliott wave count and added confidence to the alternate hourly Elliott wave count. The alternate has some support from volume analysis, and its target remains the same today. Summary: In the short term, a bounce...
by Lara | May 27, 2017 | Gold |
An upwards breakout looks to have occurred earlier than expected. Summary: In the short term, a new low below 1,259.61 prior to a new high would add confidence in a trend change back to down. At that stage, the target would be 1,140 although this may be too low. A new...
by Lara | May 13, 2017 | Gold |
Upwards movement has continued as expected. With some structure now to analyse, targets can be calculated. Summary: A bounce has begun. It looks like a counter trend movement. Be diligent with risk management if trading this movement upwards. The target for Monday /...
by Lara | Mar 30, 2017 | Gold |
Downwards movement continued for Thursday as expected. Price is now below the lower edge of the base channel on the hourly chart. Summary: A pullback to about 1,230 may continue. The target may be reached now in another 3 days time. Volume and On Balance Volume today...
by Lara | Jan 25, 2017 | Gold |
A breach of the trend channel and a new low below 1,195.82 invalidated the main Elliott wave count and confirmed the alternate. Summary: A deeper pullback looks very likely to have begun. Short positions should be watched carefully because this may be a choppy...
by Lara | Jan 23, 2017 | Gold |
A small upwards day has made a slight new high. Both Elliott wave counts remain the same. Summary: The bottom line is still that it must be accepted there is no indication yet of an end to this upwards wave while Gold remains within the channel and above the...
by Lara | Dec 14, 2016 | Gold |
Again, upwards movement was expected to complete a small consolidation before price fell further. The consolidation was already complete and price has made a new low. Summary: The target for downwards movement to be interrupted is at 1,115. A break above the yellow...
by Lara | Dec 1, 2016 | Gold |
Another new low for Gold was not expected. Summary: Weakness from ATR, extreme oversold conditions for RSI and Stochastics, and now divergence with price and RSI at today’s low all strongly indicate a reversal either here or very soon. A new high above 1,181.36...
by Lara | Oct 24, 2016 | Gold |
An outside day closes with a red candlestick, which slightly favours the main Elliott wave count. Both Elliott wave counts remain viable while price remains within the consolidation / invalidation points. Summary: A new low below 1,247.67 would confirm the main wave...
