Commodity bears crawling out?

Elliott Wave Forecast

Gold
 

On gold (COMEX:GCU14) we are tracking a big triangle placed in wave 4) for a while now which is still incomplete.

Recently we have seen a completed wave D at 1240 so now we will focus on another three wave move, this time up in wave E that can retrace even up to 1350 zone where we will be looking for a bearish reversal signs.



Gold Daily Elliott Wave Analysis

 

 

 

 

 

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About the Author

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/

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