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We are providing technical analyzes for the financial markets and how they behave based on the Elliott Wave Principle. The Elliott Wave Principle gives you a method for identifying at what points a market is most likely to turn. And that, in turn, gives you guidance as to where you might enter... More
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  • GOLD: Sideways Within Larger Uptrend: Elliott Wave Analysis 0 comments
    Aug 23, 2013 4:50 AM | about stocks: GOLD

    On Gold we are tracking a bullish continuation from 1272 that should be in five waves, because we are tracking wave C/3 which are both motive waves. Right now we can see only three completed legs, but current sideways price action seems like a fourth wave, so be aware of another rise in the near future, up to 1390-1400 zone.

    Only a decisive fall through 1344 support and towards 1318 level will suggest that bearish reversal is unfolding. In such case we would focus on daily alternate count.

    GOLD 4h - Elliott Wave Analysis

    (click to enlarge)

    Written by www.ew-forecast.com

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    Stocks: GOLD
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