SP500 and GOLD Intraday

By: Gregor Horvat | Mon, Dec 1, 2014
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S&P500 is showing impulsive bearish quality from the highs, currently in fourth wave but looks like wave five could break to a new intraday low very soon. So if we get another low, then bearish impulsive from the high would be confirmed, which means then more downside after and three wave bounce.

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

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

Metals are turning nicely to the upside from earlier spikes down following "no" on Swiss-gold referendum. Well, gold did not fall to a new low but it's interesting to see a very strong and impulsive upward reversal from the past few hours, so looks like we will see even higher prices in sessions ahead.

GOLD 30min Elliott Wave Analysis

GOLD 30-Minute Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

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 TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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