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Gold Futures Elliott Wave Options CFDs 2 August 2019

Gold Futures Elliott Wave Options CFDs 2 August 2019

Gold-Elliott-Wave-fu...

Gold Futures Elliott Wave Options CFDs 2 August 2019

Gold 1 Hour Chart
Friday, 02 August 2019 at 08:56 GMT

Silver is making a nice bounce away from 15.90, while gold rallied away from 1400, so both shows bullish developments that may show up next week.

gold1hr08-02

Gold 4 Hour Chart
Friday, 02 August 2019 at 07:19 GMT

Gold broke higher last week, but then it turned down after a temporary move above 1452 level. We see that as blue wave B that belongs to a higher degree running triangle correction in wave four. That being said, latest rally from the lower triangle line we labelled as wave D of IV, which can now face resistance near the 1451 region, from where final wave E can take price lower. A later rally in impulsive fashion from the lows would be first evidence that a triangle is completed, and wave V is in play.

gold4hr08-02

 


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