GOLD Elliott Wave Technical Analysis – 21st September, 2017

Downwards movement continues as both Elliott wave counts expect. The short term target remains the same. Summary: Expect downwards movement now to continue at least for the short term. A short term target is at 1,261. This downwards swing may go as low as 1,170 to...

GOLD Elliott Wave Technical Analysis – 9th August, 2017

Upwards movement was unexpected and has invalidated the Elliott wave count at the hourly chart level. Summary: The target is at 1,279, but it may be a little too low. If price moves above the target, look for resistance at the maroon trend line on the main daily...

GOLD Elliott Wave Technical Analysis – 20th June, 2017

Further downwards movement was expected from the Elliott wave count. The target remains the same. Summary: Downwards movement may be over for the short term. Confidence in this view may be had if price moves into the upper half of the Elliott channel on the hourly...

Gold Elliott Wave Technical Analysis – 25th April, 2017

A pullback has continued lower to test support at prior resistance, which is typical price behaviour. Volume will be used to indicate what is most likely to happen next. Summary: A decline in volume today and price at support suggests an upwards day tomorrow. Long...

GOLD Elliott Wave Technical Analysis – 17th March, 2017

Sideways movement was expected for Friday. An inside day perfectly fits expectations. Summary: A small fourth wave correction may now continue sideways over another one to few days and should remain above 1,211.06. When the correction is complete, then a target for...

GOLD Elliott Wave Technical Analysis – 25th November, 2016

A short, sharp wave down to about 1,170 was expected for Friday’s session. This is what happened. Downwards movement reached 1,172.10 before reversing. Summary: Gold is in a downwards trend. The main Elliott wave count has little support from classic technical...

GOLD Elliott Wave Technical Analysis – 4th October, 2016

Downwards movement invalidated both Elliott wave counts and broke below support. Summary: Strong sharp movements are very commonly quickly reversed. How high the bounce goes may tell us which wave count is correct. A new high above 1,306.70 would add confidence to the...

GOLD Elliott Wave Technical Analysis – 30th September, 2016

Again, upwards movement was expected for Friday’s session. Price still remains above the invalidation point. Summary: Upwards movement is still expected as most likely and should show an increase in momentum and strong volume over the coming weeks. A new high...