• 10 hours S&P 500 Officially In An Earnings Recession
  • 14 hours Miners Are Weathering The Trade War Storm
  • 17 hours UK Credit Card Interest Rates Are Skyrocketing
  • 1 day From Frenzy To Flop, The Death Of This Year’s Most Hyped IPO
  • 2 days Are Smart TVs Spying On Us?
  • 2 days Is Fossil Fuel Divestment A Waste Of Time?
  • 2 days A Russian Billionaire’s Space Quest To Save Humanity
  • 3 days Markets Take Breather As Consolidation Continues
  • 3 days Economic Woes Weigh On Copper Prices
  • 3 days World's Largest IPO At Risk Following Drone Strikes
  • 3 days Gold Is Beating Buffett’s Berkshire Hathaway
  • 4 days What’s Behind The Silver Sell-Off?
  • 4 days The Retail Apocalypse Is Accelerating
  • 4 days The Top Tech Stocks Of The Year
  • 4 days America’s Workforce Elderly Workforce To Double By 2028
  • 5 days Toyota Tests Solar-Powered Prius
  • 5 days Why The Gold Rally Flatlined
  • 6 days The Uranium Sector Can’t Catch A Break
  • 6 days Upcoming Fed Meeting Has Investors On Edge
  • 7 days Global Gold Sector Outlines Responsible Mining Principles
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On Gold And Brent Oil

Gold

Gold made five waves up, and maybe now finally to make a short-term retracement with three subwaves down to around 1245-1250 area which seems to be ideal zone for a new bounce that can happen already tomorrow. Invalidation level is at 1225; as long this one holds we will be looking higher.

GOLD, 1H

Gold 1-Hour Chart


Brent Oil

Brent oil took out the upper line of a downward corrective channel which means that contra-trend move is completed. In fact current rise from 38.38 is impulsive so we expect more gains ahead, definitely above 41.50 and then even to 42-43 area while dollar is under pressure.

Brent OIL, 1H

Brent Crude 1-Hour 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