"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 15 hours Why Criminals' Cryptocurrency Choices Matter To Average Investors
  • 2 days OPEC ‘Supergroup’ Keeps Oil Exports Subdued
  • 2 days One Belt, One Road, One Direction for Precious Metals
  • 2 days Vicious Trio Keeps Bitcoin in Chokehold
  • 2 days How Infrastructure Is Driving A Commodity Boom
  • 2 days What’s Really Happening With Venezuela’s “El Petro?”
  • 2 days Gold Bull and Bear Markets
  • 3 days 5 Big Drivers of Higher Inflation Rates Ahead
  • 3 days U.S. And China To Face Off Over Aramco IPO
  • 3 days Gold Bulls, Brace Yourselves – Fed Hikes Are Coming!
  • 3 days Stocks Fail to Hold Gains, But Still No Correction
  • 3 days Cryptojacking: A New Threat Vector To Critical Infrastructure
  • 4 days Why The Next Oil Boom Will Be Fueled By Blockchain
  • 4 days 5 Things Investors Should Know About China this New Year
  • 4 days Is The South Korean Crypto-Drama Finally Over?
  • 4 days Miners’ Rally? What Rally? Watch Out for More Fake Moves!
  • 4 days Four Percent 10-year Note Yield Will Be a Floor Not a Ceiling
  • 4 days The End Is Near
  • 5 days 5 Record Breaking Gemstones Even Billionaires Can’t Buy
  • 5 days Irredeemable Currency De-tooths Savers
5 Big Drivers of Higher Inflation Rates Ahead

5 Big Drivers of Higher Inflation Rates Ahead

Investors got lulled into a…

Stocks Fail to Hold Gains, But Still No Correction

Stocks Fail to Hold Gains, But Still No Correction

The U.S stock market indexes…

Decision Time

Decision Time

Last week, I mentioned that…

Elliott Wave Analysis: GOLD Can Be Bottoming

Gold is trading sharply lower after breaking beneath 1182 level that caused an extended impulsive decline from 1255. Impulses are five wave patterns, and it looks like that metal is already in fifth wave now after recent completed corrective rally at 1175 labeled as wave (iv). So current leg down is wave (v) so we would not be surprised by a bullish reversal, especially if we also consider the divergence on RSI. However, any trend in change from bearish to bullish mode would be confirmed only if price would rally in impulsive manner back to 1175.

GOLD 4h Elliott Wave Analysis

GOLD 4-Hour Elliott Wave Analysis Chart

Gold is higher following the NFP figures, but this has been technically anticipate. Notice that market went above 1551 swing of a red wave iv) which means that metals is probably bottoming and that rally will occur in minimum three legs, especially if metal will close above 1160 today.

GOLD 1h Elliott Wave Analysis

GOLD 1-Hour Elliott Wave Analysis Chart

 


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

 

Back to homepage

Leave a comment

Leave a comment




Don't Miss A Single Story