Gold forecast as of 01/27/2009

Gold – Elliott shows, that market is in the process of “Double Zig-Zag” 3rd wave in the range of 986.37 – 1094.39 between February 6th and March 13th.
Market move below 800 might signal that up move is done.

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