Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

GOLD Elliott Wave Analysis: Rally Into Resistance Zone

|Includes:Randgold Resources Limited (GOLD)

Gold is recovering from 1277 low but still showing a corrective personality because of an overlapping price action. Therefore we think that rally from the low is temporary; ideally it's wave (b) that is part of a larger downtrend. We see price now moving into 1320-1342 reversal zone from where a new sell-off may occur. A decline in impulsive fashion will confirm a downtrend continuation for this market.

GOLD 4h Elliott Wave Analysis

Interested in our analysis? Get now 1 month of full service for just 1€. http://www.ew-forecast.com/service

Like To Learn Elliott Wave ? View the recorded webinar " Elliott Wave Live Market Analysis"

Stocks: GOLD