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GOLD Elliott Wave Technical Analysis – 12th November, 2013

Last analysis expected more sideways and slightly higher movement before one more downwards wave. Price did not move higher, it moved sideways, and was followed by another wave downwards. The target at 1,271 was comfortably exceeded. I have a new alternate wave count...

GOLD Elliott Wave Technical Analysis – 8th November, 2013

Thursday’s analysis expected sideways movement to end about 1,314.96, followed by strong downwards movement as a third wave began. Price moved sideways to reach 1,313.93 then turned downwards strongly. Downwards momentum has increased as expected. The wave count...

GOLD Elliott Wave Technical Analysis – 31st October, 2013

Yesterday’s analysis expected more downwards movement towards a target about 1,325. Price has moved lower, so far down to 1,319.22, 5.78 below the target and extremely close to the 0.382 Fibonacci ratio on the main hourly wave count at 1,318.73. The wave counts...

GOLD Elliott Wave Technical Analysis – 30th October, 2013

Movement below 1,340.90 invalidated yesterday’s hourly wave count. I have gone back and re-analysed this recent upwards movement from 1,251.76 because something else must be happening. The wave count at the daily chart level remains mostly the same. I have two...

GOLD Elliott Wave Technical Analysis – 24th September, 2013

Yesterday’s analysis expected the completion of a small triangle to be followed by a sharp downwards thrust. The update for yesterday gave a target for this downwards thrust to end at 1,305. It ended at 1,305.90. We now have a clear channel breach on the hourly...

GOLD Elliott Wave Technical Analysis – 23rd September, 2013

The small channel on the hourly chart was breached, but price has moved sideways not higher. It looks like we may be seeing a small triangle complete. When this is done we should see a brief sharp downward thrust, to be followed by the resumption of upwards movement....