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Gold Futures Elliott Wave Options CFDs 31 January 2019

Gold Futures Elliott Wave Options CFDs 31 January 2019

Gold-elliott-wave-fu...

Gold Futures Elliott Wave Options CFDs 31 January 2019

Gold 1 Hour Chart
Wednesday, 30 January 2019 at 6:51:00PM AEST

Gold keeps moving higher, now in that very important 1310-1320 zone where upside can be limited, especially with the FED and NFP ahead. Flows may change so don’t be surprised by a pullback, especially if we see a decisive decline below the channel support.             

gold1hr01-30

Gold 4 Hour Chart
Wednesday, 30 January 2019 at 6:42:00PM AEST

No change.
Gold is trading bullish, ideally unfolding five bigger waves, as part of wave C of a bigger recovery. We can see that price found a base for corrective wave 4) of C at the 1277 level, from where a sharp and strong recovery unfolded. This strong recovery can be labelled as final sub-wave 5) of C in progress, which can look for resistance and a bearish reversal near the 1316/1330 region (area of Fibonacci projection zone of 161.8/200 and area where the upper Elliott wave channel lines sit and can react as resistance).

gold4hr01-30
      


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