A correction was expected to continue for another one to few days. Today’s red candlestick with a long lower wick mostly fits that expectation.
Price remains above the invalidation point but the wave count no longer has the right look, so today it is changed.
Continue reading GOLD Elliott Wave Technical Analysis – 24th April, 2017
Downwards movement continued for Thursday as expected. Price is now below the lower edge of the base channel on the hourly chart.
Continue reading GOLD Elliott Wave Technical Analysis – 30th March, 2017
A breach of the trend channel and a new low below 1,195.82 invalidated the main Elliott wave count and confirmed the alternate.
Continue reading GOLD Elliott Wave Technical Analysis – 25th January, 2017
A small upwards day has made a slight new high.
Both Elliott wave counts remain the same.
Continue reading GOLD Elliott Wave Technical Analysis – 23rd January, 2017
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.
Continue reading GOLD Elliott Wave Technical Analysis – 14th December, 2016
Another new low for Gold was not expected.
Continue reading GOLD Elliott Wave Technical Analysis – 1st December, 2016
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.
Continue reading GOLD Elliott Wave Technical Analysis – 24th October, 2016
Upwards movement was expected for Friday’s session but did not happen.
Price remains above the invalidation point on the daily chart, which is where final risk remains.
Continue reading GOLD Elliott Wave Technical Analysis – 16th September, 2016
A little downwards movement was expected to end about 1,338.
Price has moved lower to reach 1,335.89 so far.
Continue reading GOLD Elliott Wave Technical Analysis – 8th September, 2016
Upwards movement was expected for Monday.
Overall, the session moved upwards to complete a green daily candlestick.
Continue reading GOLD Elliott Wave Technical Analysis – 1st August, 2016
Downwards movement was expected to begin the new week.
Price has moved sideways in a small range, remaining below the invalidation point (which is close by) on the first Elliott wave hourly chart.
Continue reading GOLD Elliott Wave Technical Analysis – 18th July, 2016
The main Elliott wave count expected upwards movement for Friday’s session.
Price moved sideways in a small range.
Continue reading GOLD Elliott Wave Technical Analysis – 20th May, 2016
Price moved slightly lower, which was allowed for but not expected from yesterday’s analysis.
Continue reading GOLD Elliott Wave Technical Analysis – 5th May, 2016