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Tuesday, November 5, 2013

Elliott wave analysis on Gold

Gold

I still think we are locked in a triangle consolidation and is looking for wave c to develop higher towards 1,391 before wave d will be ready to take over. Only a break above 1,433.73 will invalidate the possible triangle and indicate that a double zig-zag is developing instead, but that outcome is less likely.


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3 comments:

  1. UnknownNovember 5, 2013 at 9:14 AM

    Hey EWS hope you are good
    US Oil at compeling levels do you think one more push into 93 high 92"s before we see upward movement

    Best Regards jt

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    1. Elliott wave surferNovember 6, 2013 at 6:34 AM

      Hi JT,

      Yes I will be expecting a decline closer to 91.05 before a correction higher towards 98.30 from where the next decline lower towards 77.05 before this X-wave is over.

      Kind regards
      EWS

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  2. UnknownNovember 6, 2013 at 11:08 PM

    Hi EWS
    Do you think we will see gold move further down to the $1280 area a 61.8% retracement of the Oct rally before moving higher?

    Thanks

    Antony

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