Browsing: Gold

Gold came off from near the 1895/1925 window, and for a brief while it looked like the recovery from near…

Can we do an Elliott Wave analysis of Gold expressed in Euros? Sure. Maybe it will give us some clarity…

Many of you are aware that I have been looking for a serious downmove in Gold, but only AFTER a second retracement of the move that followed the initial sell off at the end of an extended fifth wave. We are currently still in that second retracement. I would urge traders to be paitient because the recent moves are not suggestive of an imminent reversal. Take a look at the chart below for additional inputs.
Elliott Wave Analysis of Gold

I hope you took profits on Citi above $14.50, locking in a 25% gain. I suspect that the current decline will be the final push, the catharsis! (Here is your chance to click on this word and check its meaning!). Unlike the previous trade, we should aim to hold the stock for longer

Sometimes we celebrate too soon. I could be faulted for that vanity quite soon. But the signs are all there. A recovery to very near the resistance at $940 folowed by a $90 drop in a single session can only suggest that (a) there are no fresh buyers out there and (b) some people are actually selling even in the face of continuing troubles in the global financial markets. How else can you explain the gaps!