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Gold Futures Elliott Wave Options CFDs 6 March 2019

Gold Futures Elliott Wave Options CFDs 6 March 2019

Elliott-Wave-Gold-fu...

Gold Futures Elliott Wave Options CFDs 6 March 2019

Gold 1 Hour Chart
Tuesday, 5 March 2019 at 4:45:00PM EST

We are still tracking wave 4 on GOLD that can be either a flat or a triangle pattern with ideal resistance around 38,2% Fibo. retracement and 1300 area, from where we should see another decline for wave 5. Invalidation level remains at 1316.

gold1hr03-06


Gold 4 Hour Chart
Wednesday, 6 March 2019 at 4:06:00PM EST

Strong reversal down on gold from 1346, and accelerating price decline through 1316 on Friday, suggests that market is in bearish mode and that more weakness can be coming as this looks like a wave three in progress. Ideally, this is an early stage of a higher degree decline so be aware of more weakness after a fourth wave bounce, which can look for resistance and a bearish reversal around the 1290 region. We are tracking a possible triangle in wave 4.

gold4hr03-07

 

 


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