FWP Network > Forexhound.com > Analysis > Commodities Analysis > Metals > GOLD Elliott Wave Analysis: Rally Into Resistance Zone

GOLD Elliott Wave Analysis: Rally Into Resistance Zone

By () · April 14, 2014 · Comments Off on GOLD Elliott Wave Analysis: Rally Into Resistance Zone
Metals · Elliott Wave, gold
gold-elliott-wave

Gold is recovering from 1277 low but still showing a corrective personality because of an overlapping price action. Therefore we think that rally from the low is temporary; ideally it’s wave (b) that is part of a larger downtrend. We see price now moving into 1320-1342 reversal zone from where a new sell-off may occur. A decline in impulsive fashion will confirm a downtrend continuation for this market.
GOLD 4h Elliott Wave Analysis
Interested in our analysis? Get now 1 month of full service for just 1€. http://www.ew-forecast.com/service
Like To Learn Elliott Wave ? View the recorded webinar “ Elliott Wave Live Market Analysis” http://www.anymeeting.com/ewforecast/EF55D980824E

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 Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com

←
→