• 755 days Will The ECB Continue To Hike Rates?
  • 755 days Forbes: Aramco Remains Largest Company In The Middle East
  • 757 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,157 days Could Crypto Overtake Traditional Investment?
  • 1,162 days Americans Still Quitting Jobs At Record Pace
  • 1,163 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,167 days Is The Dollar Too Strong?
  • 1,167 days Big Tech Disappoints Investors on Earnings Calls
  • 1,168 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,169 days China Is Quietly Trying To Distance Itself From Russia
  • 1,170 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,174 days Crypto Investors Won Big In 2021
  • 1,174 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,175 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,177 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,177 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,181 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,182 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,182 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,184 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis For GOLD and OIL Intraday

Crude oil hit new lows yesterday so the structure has changed, but it's still corrective which is the most important so we know that next impulsive reaction should be to the upside. We are now looking at the updated labeling with a double zigzag down from 107.35 in wave (iv) that can be near completion. However, a break of the corrective channel and move above 106.07 swing is needed before we can confirm wave (v) up to 108.00.

Crude Oil (August 2014) 1h Elliott Wave Analysis

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

Gold did not move much in the last 24 hours so our bias remains unchanged, we are looking at incomplete wave v) that may extend gains up to 133571340 in the short term, out of current sub-wave iv. However, metal seems to be in final stages of wave (a) so we could see a top formation by the end of this week.

GOLD 1h Elliott Wave Analysis

GOLD 1-Hour Elliott Wave Analysis Chart

 


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

 

Back to homepage

Leave a comment

Leave a comment