Category Archives: Gold – Daily

Gold

Today’s 8.76 percent rally of Gold may conclude the advance of Intermediate-degree wave (A), which started in early-December. The strong rally day should be the last portion of a Minor-degree impulsive wave 5.

Accordance with this adjusted wave count in daily frame, the following correction in wave (B) will develop soon to a partial retracement level (by technically 50% at 1204$).

Gold - Daily

Gold

Correcting Down :

After unfolding an ending diagonal in Minor degree wave 5, Gold should be now in the early stages of correcting in likely an A-B-C zigzag (of one larger degree) to the downside.

Technically, the expected target at 1206 would be pointed well as Minor wave A’s extreme.

Gold - Daily

Gold

Bullish Outlook :

Gold could have concluded its correction as Minor wave 4 at 1206. The current advance in the same degree fifth-wave should eventually carry to a new high (above 1287.8).

The bullish count is in place, while the price hold above the 1206 extreme.

Gold - Daily

Gold

Correcting Down :

There is no change in the forecast for Gold. Prices still remain in the process of correcting down in Minor-degree fourth wave.

The correction has potential of retracing back to the Fibo 0.382 level at 1195.7 in the coming days.

Gold - Daily

Gold

Correcting Down :

Gold could be in correcting downtrend in its Minor-degree fourth wave, with respect to the latest adjusting wave count.

The correction of Minor wave 4 has potential of retracing to the Fibo 0.382 level at 1195.7 in the coming days.

Gold - Daily

Gold

Sideways View :

There is no change in this daily frame, the Gold’s volatility would be expanded in the 50 points range and the trading range will contract around 1219.3.

The price volatility will be counted as Minor wave 4, which is prior to advance in the same degree fifth wave of (A). A triangle always occurs in a position prior to the final actionary wave in the sequence of one larger degree.

Gold - Daily

Gold

The Gold’s volatility in Minor-degree fourth wave, which started on February 11, would likely surround the 2.2%. ( in ongoing wave ((d)) up and following wave ((e)) down by mid-March.)

The expected target in this week is 1250.8, as the Minute wave ((d)) extreme.

Gold - Intraday

Gold

Bullish Outlook :

The Gold’s volatility should continue in the 50 points range over the coming weeks, and the trading range would contract around 1219.3.

The price volatility will be counted as Minor wave 4, which is prior to advance in the same degree fifth wave of (A).  (As noted in the recent post, Intermediate wave (A) would achieve the origin of the expanding diagonal at 1307.8.)

Gold - daily