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Gold prices remain in an uptrend after breaking through the resistance line (in red) connected from the all-time highs. This break looks very similar to the one that occurred in 2009 when gold was trading around $900 per ounce.

In fact, from an Elliott Wave perspective, recent sideways price action from August 2011 high was slow, choppy and overlapping, so we believe it represents wave IV that puts wave V in play for 2013.

Gold Elliott Wave Analysis 2013
Gold Elliott Wave Analysis 2013 – Click image to enlarge

 

For more details on gold technical outlook please review our video below, recorded on Dec 21st

VIDEO: AUDUSD, USDCAD and GOLD

 

It seems that 2013 will be very exciting year with a lot of opportunities lying ahead. If you want to join this adventure then now it’s right opportunity for you to test our services now.