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Elliott Wave Gold Futures Options CFDs 14 January 2019

Elliott Wave Gold Futures Options CFDs 14 January 2019

Elliott-Wave-Gold-fu...

Elliott Wave Gold Futures Options CFDs 14 January 2019

Gold 1 Hour Chart
Wednesday, 9 January 2019 at 12:44:00AM AEST

GOLD is dropping from the 1295 level in five minor waves, which can be start of a wave c of a higher degree. We know that after every five-waves a temporary three-wave pullback may follow, which can later look for resistance and a turn lower around the 1287/1290 region. Invalidation level is at 1295.

gold1hr01-08

Gold 4 Hour Chart
Monday, 14 January 2019 at 7:56:00PM AEST

No change.
Precious metal was trading bullish from 1232 level and also unraveled a five-wave movement within leg five of A. This five-wave movement can now be retraced by a temporary three-wave pullback, labelled as wave B, which can look for support and a bounce near the Fibonacci ratio of 50.0 or 61.8(1265/1260 area). That said, currently we see price unfolding sub-wave b of B, which can look for a bearish reversal near the 1300 zone.

gold4hr01-14

 


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Elliott Wave Gold,  Gold Futures, Gold Options, Gold CFDs

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