Elliott Wave Analysis: Gold’s Weekly Reversal Signals More Trouble

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Gold’s technical analysis shows last week’s rally pivoted near an important level. The bearish price action since hints at more losses for gold. The video above is a recording of a US Opening Bell webinar from January 13, 2020. In this session, we covered the Elliott wave patterns for markets such as gold, silver, DXY, EUR/USD, GBP/USD, and USD/JPY. In last week’s webinar, we highlighted how the new highs in gold may be short lived. Gold prices may a large weekly reversal candle last week on the heels of the forecast. Reviewing an intraday gold price chart shows an Elliott wave impulse carving from the January 7 highs. This pattern suggests we may see a partial retracement higher that holds below $1611 followed by another sell-off that may carry to below $1500. Perhaps $1567-$1584 contains the corrective rally. -Subscribe to DailyFX EDU: https://www.youtube.com/channel/UCeqApskAUurShxi94GDXzaw?sub_confirmation=1 For more info visit: http://www.dailyfx.com/ Facebook: http://facebook.com/DailyFXEDU/ Twitter: http://twitter.com/DailyFXedu/ LinkedIn: https://www.linkedin.com/company/dailyfx-com/ #DailyFXEDU

Published by: DailyFX EDU
Published at: ۴ months ago
Category: آموزشی