Gold forecast as of 11/06/2009

Gold –  Elliott shows still (independent of last week new highs)  that the “Zig-Zag”(ZZ) up is done and market is in the process of new wave down. We need a little longer and deeper correction, to get clearer picture, what is actually going on.

Gold forecast as of 10/27/2009

Gold –  Elliott shows yet again that the “Zig-Zag”(ZZ) up is done and market is in the process of new wave down. We need a little longer and deeper correction, to get clearer picture, what is actually going on.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Gold forecast as of 10/19/2009

Gold –  Elliott shows yet again that the “Zig-Zag”(ZZ) up is not done and is in the process of 3^rd wave in the  range of  984.70 – 1086.46 between  September 14^th and December 24^th.

Market needs to move below 1020.00 to have any confidence of calling the end of the up move.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Gold forecast as of 10/13/2009

Gold –  Market continuous move up has changed the forecast slightly and Elliott shows yet again that the “Zig-Zag”(ZZ) up is not done and is in the process of 3^rd wave in the  range of  984.70 – 1086.46 between  September 14^th and December 24^th.

Market needs to move below 1020.00 to have any confidence of calling the end of the up move.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Gold forecast as of 10/06/2009

Gold –  Like mentioned last week, market making new highs will not necessarily change the forecast and so it appears to be – Elliott shows that “Zig-Zag”(ZZ) up is finished and move down has started. Based on current chart, market is in the process of “Double Zig-Zag” (DZ)  2^nd wave in the  range of  918.53 – 982.57 between  November 3^rd and February 26^th.

Market can move as high as 1092.00 without invalidating this pattern. If market does not start moving down before October 26^th, tho, we might be dealing with different combination altogether.

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

Gold forecast as of 09/29/2009

Gold –  Market moved below 1000 and Elliott shows that “Zig-Zag”(ZZ) up is finished and move down has started. Based on current chart, market is in the process of “Flat” (FL) 2^nd wave in the  range of  882.55 – 939.15 between  October 27^th and December 18^th.

Market move above recent highs will not necessarily invalidate this combination.

Flat is a three wave pattern, where 1st and 2nd wave are corrective in nature and 3rd, the last wave, impulsive in nature.

Gold forecast as of 09/22/2009

Gold – As market continued moving up Elliott now shows that the “Zig-Zag” 3^rd wave is not complete. Market is in its price and time area but has room to move up and time to do so.  ZZ 3^rd wave is supposed to complete in the  975.75 – 1040.29 price range between  September 11^th and October 28^th.

Market move below 1000 makes it likely that ZZ is done and new wave down started.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Gold forecast as of 09/15/2009

Gold – Looking at the last week’s FL 2^nd wave closer, Elliot shows that there is a completed “Zig-Zag” (ZZ). This ZZ could very well have completed the FL 2^nd wave, as it took the market to the likely time and price area.

Or it could be 1^st wave of the FL 2^nd wave, in which case the included “Double Zig-Zag” scenario might be working out. If this is the case, then market will move to 940.81 – 983.53 between October 1^st and November 20^th while in the process of its 2^nd wave.

Market move below 905 may signal that FL 2^nd wave is done and 3^rd wave down has started.

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

Gold forecast as of 09/08/2009

Gold –As the market finally broke out of the range upward, it seems that last weeks’ scenario B is working out. Elliott shows that market is in the process of  “Flat” (FL) 2^nd wave in the range of 973.86 – 1022.12 between September 10^th and December 24^th .

Market move below 930 may signal that FL 2^nd wave is done and 3^rd wave down has started.

Flat is a three wave pattern, where 1st and 2nd wave are corrective in nature and 3rd, the last wave, impulsive in nature.

Gold forecast as of 09/01/2009

Gold –With the market trading in the range, Elliott has now two possible scenarios:

A: market is in the process of  “Flat” (FL) 3^rd wave in the range of 747.21 – 857.90 between September 30^th and January 11^th.

B: market is in the process of  “Flat” (FL) 2^nd wave in the range of 973.86 – 1022.12 between September 9^th and December 24^th .

Market move below 930 makes scenario A more likely, market move above 970 makes option B more likely.

Flat is a three wave pattern, where 1st and 2nd wave are corrective in nature and 3rd, the last wave, impulsive in nature.