• 288 days Will The ECB Continue To Hike Rates?
  • 288 days Forbes: Aramco Remains Largest Company In The Middle East
  • 290 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 690 days Could Crypto Overtake Traditional Investment?
  • 695 days Americans Still Quitting Jobs At Record Pace
  • 697 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 700 days Is The Dollar Too Strong?
  • 700 days Big Tech Disappoints Investors on Earnings Calls
  • 701 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 703 days China Is Quietly Trying To Distance Itself From Russia
  • 703 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 707 days Crypto Investors Won Big In 2021
  • 707 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 708 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 710 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 711 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 714 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 715 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 715 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 717 days Are NFTs About To Take Over Gaming?
Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Trade In Counterfeit Goods Hits Half A Trillion Dollars

Trade In Counterfeit Goods Hits Half A Trillion Dollars

The counterfeit market has breached…

  1. Home
  2. Markets
  3. Other

Elliott Waves on GOLD and German DAX

Gold

Gold is surprisingly higher after good NFP figures, with current price trading above 1074 swing high, which is the first broken swing high in a while. Notice that market might have also accomplished an ending diagonal in fifth wave so it can be very interesting price action for bullish waves ahead as low can be forming on gold. Well, it can be only temporary bottom but in either case we need minimum three waves up. A daily close above 1074 will indicate higher prices next week.

GOLD, 1H

Gold 1-Hour Elliott Wave Chart


German DAX

German DAX fell to a new low but downside seems to be limited around 10600 so we still think that price is in late stages of wave (A) down. We believe that market will rally with three waves next week, possibly back to 11000 from where we would expect a continuation lower.

German DAX, 1H

German DAX 1-Hour Elliott Wave Chart

 


If you like our trading analysis, you can visit our website at --> www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment