Elliott Wave Analysis For GOLD and OIL Intraday

By: Gregor Horvat | Tue, Apr 29, 2014
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We have turned bullish on gold last week and based on later price action we may see continuation to the upside in this week. we are looking at three wave set-back from 1306 with nice projected support for wave c around 1282-1285. If we see that hold, and reversal up to 1300 then 1310 and 1320 will come in play.

GOLD 1h Elliott Wave Analysis

GOLD 1-Hour Elliott Wave Analysis Chart

Crude oil reached new lows yesterday around 100.30 but rallying today back to 101.40/60 zone which now looks like a flat correction in wave iv). We expect a resumption of a downtrend in the next 24-48 hours.

Crude Oil (June 2014) 1h Elliott Wave Analysis

Crude Oil (June 2014) 1-Hour Elliott Wave Analysis Chart


 

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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

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