Thursday, July 18, 2013

Elliott wave analysis of Gold


Gold

Please see my post from July 14 here first:
http://theelliottwavesufer.blogspot.dk/2013/07/elliott-wave-analysis-of-gold-be-ready.html

As we broke above minor resistance at 1,288.54 we knew, that we need one more rally above 1,289.98, which was exactly what we saw yesterday with the rally to 1,300.63. The quick return lower from 1,300.63 indicates, that the correction from 1,180.20 is over and we should now expect a new low below 1,180.20. The ideal target for red wave v will be at 1,111.45.

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