Monthly Archives: January 2015

Silver

As expected under a bearish view on previous intraday chart, the ending diagonal wave (c) as the last portion of the three-waves sequence Y(circled), has been retraced to it’s start point. Hence, would suggest that the overall “Double Zigzag” W-X-Y,  has been completed at terminus point of 18.50 .

For now, Subsequents of the first wave of decline is likely in progress. The ultimate target for the wave i(circled), would be around 16.07 level.

Silver - Intraday

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Silver

As expected under a bearish view on the previous daily chart, Silver may be completed the first cycle(waves 1 and 2) in terminus point at 18.50, of the current decline as the wave (5). Hence, second cycle in the same direction, and decline wave 3 will likely ahead.

A bullish alternate count:

The wave (5) has been completed at 14.15 level, and the overall five-waves sequence from peak at 50.97 to low at 14.15 is likely correcting.

Silver - Daily

Gold

As expected of the view on the previous intraday chart, the bearish leading diagonal may be still in progress. The current rise could be a fourth wave of the concept, So that a fifth wave decline of the sequence which may be the first wave of wave 3 is likely ahead.

Gold - Intraday-1

Gold

In a bearish view on intraday charts, the leading diagonal which is likely in progress, could suggest that a significant top has formed on 1309 level as terminus point of wave 2.

And also, It is expected the following wave sequences are extended in the same direction that the leading diagonal has been going on.

Gold - Intraday

Gold

“A zigzag, on occasion, will cut deeply and move into the area of the second wave of lesser degree, although this almost exclusively occurs when the zigzag is itself a second wave. “Double bottoms” are sometimes formed in this manner.”

Based on the description, the rise of low on 1132 through high in 1309, could be second wave of wave (5) likely in progress, and so third-wave decline ahead.

Description of the possible wave 2 :

The beautiful leading diagonal wave a(circled), could suggest an extended impulsive-formation as the wave c(circled), in order to approach to an asymmetrical form on the overall corrective sequence as wave 2 .

Gold - daily

Gold

Will Gold’ongoing-decline be extended to lower levels in the coming weeks?

In a bearish alternate-view on the weekly chart frame, the bearish strength of leading diagonal concept as wave (1), would infer to extend the following waves on the down trend persistently. And hence, the fifth wave of the five-wave sequence A(circled), may be extended to lower levels.

Based on the bearish alternative, A common fibo-expansion target for the extended wave (5) of A(circled), could be around the 950 level, where be established an equality ratio with the wave (1).

Gold - Weekly

Gold

After an impulsive five-wave sequence up of the cycle degree in September 2011 , Gold is likely to correct in a three-waves sequence(or a variation).

An explanation of the ongoing Gold’s bear market :

The ongoing five-wave sequence down from the peak in 1923 , which up here has lasted 42 month, may be just as an initial subsequent of the great correction of the same cycle degree. It could be considered as the wave A of the primary degree.

In a bearish view on the monthly chart frame, the fifth wave of the five-wave sequence A(circled), may be extended to lower levels.

Based on the bearish view, the expected fibonacci targets for the wave (5) of A(circled), could be considered on the 950 level where is equality ratio with the first wave, and 886 level where is 0.618 time of waves (1) through (3).

The ultimate target for the bear market, could be in the span of travel of the previous fourth wave of the primary degree, around the 398 area.

Gold - Monthly