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



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