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 6, 2017 | Gold |
A little sideways movement followed by another wave down was expected in last analysis. This is what has happened. Summary: The new target for Monday is 1,214. If this is wrong, it may be too low because price is at strong support and On Balance Volume is at support...
by Lara | Apr 24, 2017 | Gold |
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....
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...
