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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 And OIL: Both May Face Resistance- Elliott Wave Analysis 0 comments
    Feb 11, 2014 4:52 AM | about stocks: GOLD

    Gold is at the new highs already after breaking out of a triangle yesterday. We believe that price is now in wave (c) of a second zigzag that may form a top in 1290-1300 area. Keep in mind that despite higher highs and higher lows we think that move from 1181 is corrective, thus temporary move so we need to be aware of a bearish turning point in this week.

    GOLD 4h Elliott Wave Analysis

    Crude oil is trading nicely since Friday, now above $100 per barrel that has been expected after a triangle formation placed in wave (iv). We are tracking wave (v) now, final leg in wave A that may complete a five wave move from the low around 100.70/101.00 figure. That said, be aware of a corrective retracement in this week down in wave B.

    OIL 4h Elliott Wave Analysis

    Written by www.ew-forecast.com

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    Stocks: GOLD
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