GOLD moved lower as expected, but because of a very sharp and aggressive sell-off we reworked the wave count. We are now tracking a three wave A)-B)-C) Elliott wave pattern from 1795 swing with wave C) underway, which appears incomplete as we need five waves down from 1696. As such, Elliott traders must be aware of more weakness in this week as current recovery could be a black wave 4 that will look for a tip around 1595-1605. Market remains in bearish mode as long as 1651 resistance is not breached. Under this bearish scenario prices could hit 1525/30 level where red wave C) equals to wave A) measured from wave B) high.
Gold Chart - Elliott Wave Analysis http://bit.ly/YtsGAR
USDCHF Technical Analysis - Sell at 0.9955
USDCHF made a nice bull move from 0.9716 to 0.9990. Then USDCHF drops from over bought zone. USDCHF is trading below its 20 period MA on 4h ...
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USDJPY is trying to stay with a larger uptrend now after recent reversal down to 95.50 support which appears to be wave iv). Wave iv) f...
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Pivot: 0.806 Our preference: Short positions below 0.806 with targets @ 0.801 & 0.799 in extension. Alternative scenario: Above 0.8...
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Commodity Entry Target Stop Gold Limit Buy 1515 Limit Sell 1530 Stop Sell 1511 Crude Oil Limit Buy 99.10 Limit Sell 100.00 Stop Sell 98.90 S...
