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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 Moves Into Important Fibonacci Zone: Elliott Wave Forecast  0 comments
    Mar 17, 2014 5:18 AM | about stocks: GOLD

    GOLD is at the highs once again, testing 1380-1400 area where we see some important Fibonacci levels that could react as resistance in this week. An updated count now shows a five wave move in wave (c) of C that is in final stages after recent break out of a running triangle in subwave four. Keep in mind that on a daily time frame we are still looking at a triangle count where price is now testing important 78.6% retracement level of 1435-1180 move. A reversal down from here back to wave four range could suggest a completed rally for metals.

    GOLD 4h Elliott Wave Analysis

    Written by www.ew-forecast.com

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    Themes: XAUUSD, Metals, Elliott Wave Stocks: GOLD
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