Category: Gold

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.

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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.

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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 3rd wave in the  range of  984.70 – 1086.46 between  September 14th and December 24th.

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

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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 3rd wave in the  range of  984.70 – 1086.46 between  September 14th and December 24th.

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

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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)  2nd wave in the  range of  918.53 – 982.57 between  November 3rd and February 26th.

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

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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) 2nd wave in the  range of  882.55 – 939.15 between  October 27th and December 18th.

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

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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” 3rd wave is not complete. Market is in its price and time area but has room to move up and time to do so.  ZZ 3rd wave is supposed to complete in the  975.75 – 1040.29 price range between  September 11th and October 28th.

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

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

Or it could be 1st wave of the FL 2nd 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 1st and November 20th while in the process of its 2nd wave.

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

GOLD5_090915_BlogDouble 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) 2nd wave in the range of 973.86 – 1022.12 between September 10th and December 24th .

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Market move below 930 may signal that FL 2nd wave is done and 3rd 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) 3rd wave in the range of 747.21 – 857.90 between September 30th and January 11th.

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

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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.

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