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

  • 1 hour Vladimir Putin’s Mysterious Fortune
  • 2 hours Cryptos Resist Social Media Crackdown
  • 3 hours The Death Of Dodd-Frank
  • 4 hours Bitcoin Bounces Back Ahead Of G20 Meeting
  • 5 hours Trump's Trade War Nears Boiling Point
  • 7 hours Will April Be A Turning Point For Precious Metals?
  • 8 hours Economic Pressures Weigh On Banks And Borrowers
  • 10 hours U.S. Political Uncertainty Keeps Stock Markets On Edge
  • 1 day Gold: The Religion Of Currency
  • 2 days Economists Polarized On Trump’s Tariff Plan
  • 3 days Why Are Investors Overlooking Gold Stocks?
  • 3 days The App That Democratized Trading Is Now Worth $5B
  • 3 days Super-Cycles: Why Gold Is Set For A Breakout
  • 3 days U.S. Sanctions Russia For Election Meddling And Cyberattacks
  • 3 days Snap Shares Tank Over ‘Slap Rihanna’ Campaign
  • 3 days How Low Can Bitcoin Go?
  • 3 days Amazon’s Japan HQ Raided In Anti-Monopoly Push
  • 3 days Is Barrick Gold Close To Finding A Bottom?
  • 4 days Morgan Stanley’s Top 10 Short-Term Stock Picks
  • 4 days China: The Land Of The Ultra-Rich
Why Aren’t Millennials Investing?

Why Aren’t Millennials Investing?

After watching previous generations take…

Is Barrick Gold Close To Finding A Bottom?

Is Barrick Gold Close To Finding A Bottom?

Barrick gold has been a…

Alibaba Soars On Reports Of China Listing

Alibaba Soars On Reports Of China Listing

Chinese e-commerce giant Alibaba saw…

Gregor Horvat

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…

More Info

Elliott Wave Analysis On GOLD And SP500


Gold can already be in a corrective set-back it seems after recent push below the wave 4 swing low which looks like a wave A as part of a three wave set-back. We are tracking wave 2) now that can retrace even back to 1220-1225 area where we would expect a bounce later this week. Invalidation level is at 1208; as long this one is in we will look higher.


Gold 1-Hour Chart


E-mini S&P500 is trading sharply higher making move from 2018 extended so it can be wave iii as well as part of an impulsive trend. However, we see price at 161.8% Fibonacci extension so we may see some short-term pullback for sure with 3-waves.

S&P500, 1H

S&P500 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

Sign Up For The Safehaven Newsletter