• 610 days Will The ECB Continue To Hike Rates?
  • 610 days Forbes: Aramco Remains Largest Company In The Middle East
  • 612 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,012 days Could Crypto Overtake Traditional Investment?
  • 1,017 days Americans Still Quitting Jobs At Record Pace
  • 1,019 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,022 days Is The Dollar Too Strong?
  • 1,022 days Big Tech Disappoints Investors on Earnings Calls
  • 1,023 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,025 days China Is Quietly Trying To Distance Itself From Russia
  • 1,025 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,029 days Crypto Investors Won Big In 2021
  • 1,029 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,030 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,032 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,033 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,036 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,037 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,037 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,039 days Are NFTs About To Take Over Gaming?
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Elliott Wave Outlook For GOLD and Crude OIL

GOLD is falling, now beneath 1279 July low so looks like market is making a new impulse down from around 1322 that can either be wave c) or wave iii) in both cases we see room for a decline to 1255/1260 in the near future. From a bigger point of view we still see chances for a corrective decline from 1345 bullish price action may follow by the end of August, but we need a recovery back above 1302 if not 1319 to confirm a return back to July high.

GOLD 4h Elliott Wave Analysis

GOLD 4-Hour Elliott Wave Analysis Chart

Crude oil extended its weakness to 93.00 recently. As such, a decline from 97.73 is most likely wave (iii) because of a five wave decline. After every impulse, you will see a corrective reaction so we think that current rally from 92.58 low is a corrective and temporary recovery, probably wave (iv) that will stop around 93.60-95.00 zone.

OIL 4h Elliott Wave Analysis

OIL 4-Hour Elliott Wave Analysis Chart

 


Subscribe Our Newsletter If you already didn't >> http://goo.gl/8QVevl
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