by Lara | Nov 4, 2019 | Gold |
Price remains within the trend lines of a triangle. All three Elliott wave counts remain valid. Summary: For the very short term, a new low below 1,482.52 would add confidence in a more bearish outlook. The target would be at 1,348. For the very short term, a new high...
by Lara | Oct 11, 2019 | Gold |
Again, downwards movement fits the main Elliott wave count best. Also, at the end of the week, volume supports the main Elliott wave count. All three Elliott wave counts remain valid Summary: A new low below 1,456.64 would provide confidence that the downward trend...
by Lara | Sep 19, 2019 | Gold |
A small range day continues a small consolidation pattern. The breakout is still expected in the same direction. Summary: The bounce may be over. A downwards breakout may be imminent. It is also possible but now less likely that the bounce may continue up to about...
by Lara | Aug 28, 2019 | Gold |
Price continues sideways. Targets remain the same. Summary: Sideways movement now looks like a small interruption within an ongoing upwards trend that is very extreme and overbought. If price makes a new high above 1,552.65, then the next target would be at 1,572 A...
by Lara | Aug 6, 2019 | Gold |
A little more upwards movement fits the bullish wave count better, but both Elliott wave counts remain valid. Support has held. Summary: There remains an upwards trend in place at the weekly chart level. Conditions remain very extreme. This market is still susceptible...
by Lara | Jul 15, 2019 | Gold |
A small range day remains within the trend lines of the pennant pattern. The target remains the same. The breakout is expected within the next one to two sessions. Summary: After the breakout from multi year resistance on 20th June, price has curved around to back...
by Lara | Jun 20, 2019 | Gold |
Today Gold may be in the process of a classic upwards breakout from a multi-year consolidation. If this session closes above 1,374.91 (the July 2016 high) on an upwards day with support from volume, then have confidence in the breakout. Today I have three Elliott wave...
by Lara | May 29, 2019 | Gold |
Price continues to move sideways. The short-term structure fits the main hourly Elliott wave count best. Summary: Resistance is about 1,310 and support is about 1,265. A downwards breakout this week may still be more likely. The target would then be at 1,219 (which...
by Lara | May 7, 2019 | Gold |
The bounce was expected to continue for Tuesday’s session, which is what has happened. Summary: For the short term, look for a bounce to possibly end about 1,289. Use the channels on the daily chart to show where price may find resistance. Thereafter, expect the...