GOLD and SP500 Intraday: Elliott Wave Analysis

By: Gregor Horvat | Mon, Nov 17, 2014
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No change for gold; market could continue higher, towards 1200 as current slow move looks corrective, but we would love to see 1170 to stay in place, while former 1178 high should turn into a support. If price will get beneath those figures, then metal could be turning south once again.

GOLD 1h Elliott Wave Analysis

GOLD 1-Hour Elliott Wave Analysis Chart

Stocks did not go far lately, but decline on S&P is still in three legs so we could see a resumption back to the highs soon especially when the trend line resistance gives way. 2050/55 could be seen with the next leg up.

S&P500 (Dec 2014) 1h Elliott Wave Analysis

S&P500 (Dec 2014) 1-Hour Elliott Wave Analysis Chart


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website:

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