$GC_F (Gold) 1 Hour Elliott Wave Analysis 3.31.2014

Gold decline from 1392 is taking the form of a triple corrective structure, another low toward 1274 -1282 is expected to complete a cycle i.e. wave A. After A completes gold should see a recovery in wave B before the decline resumes. We don’t like buying the metal in proposed wave B recovery and would look for selling opportunities at the end of wave B. It’s not a good idea to chase weakness at current levels as there is enough swings in place already to call wave A completed.

Trading is not an easy job, you need someone to keep you on right side of the market. Click HERE to start you 14 DAY TRIAL

Subscribe to our Commodities Blog

First Name: *
Last Name: *
Your Email Address: *