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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 Elliott Wave Analysis: Faces Resistance Around 1330 0 comments
    Feb 18, 2014 3:35 AM | about stocks: GOLD

    Gold broke above 1300 mark, making an extended leg from 1251, triangle low. Notice that we have adjusted the wave count but actually massage is the same; we see a corrective advance from 1181 now testing 1330 resistance. We are observing more simple count now, a zigzag with a triangle placed in wave (b). We also know that wave (b) pattern CANNOT be labeled as wave two, because triangles never occur in wave two position. So because of that we are even more confident that rally is a contra-trend and that gains will be limited.

    GOLD 4h Elliott Wave Analysis

    Written by www.ew-forecast.com

    14 days trial just for €1 >> http://www.ew-forecast.com/register

    Stocks: GOLD
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