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Sunday, September 15, 2013

Elliott wave analysis of Gold - Gold went over the edge....


Gold

Went over the edge and is in a clear impulsive decline. Short term I'm looking for resistance at 1,329 to protect the upside for the next decline towards at least 1,297.80 and possibly even lower towards 1,276.67, before the next correction sets in. However once we break below 1,272.85 breaks the next major target is at 1,180.20 on the way towards the 1,148 and likely even lower towards 1,080.


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