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  • GOLD Elliott Wave Analysis: Beware Of Three Wave Rally Back  0 comments
    Mar 28, 2014 6:57 AM | about stocks: GOLD

    GOLD have turned bearish last week from 1380-1400 Fibonacci resistance zone and extended losses in this week beneath 1300 psychological level where market could look for some support if we consider five sub-waves down from 1391. We are talking above red wave i)/a) that could be near completion, so traders should be aware of three wave rally back to 1327-1342 region. The RSI is also showing some signs of a divergence. Keep an eye on upper trendline of a current downward channel; a break above it will suggest that three wave rally has began.

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    Themes: XAUUSD, GOLD, Elliott Wave Stocks: GOLD
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