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GOLD Elliott Wave Analysis – Bullish on the Long Term

We expect a rise into a new high on gold after a recent sharp rally through the red resistance line that connected it from all-time highs. This break is now very similar to the one that occurred in 2009 when gold was trading around $900 per ounce.

In fact, from an Elliott Wave perspective this recent price action definitely looks corrective: a nice wave IV that will put wave V in progress, possibly towards $2000 per once.

Gold Elliot Wave Analysis November 26 30 2012
Gold Elliot Wave Analysis – Click image to enlarge

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If you want to see more detailed analysis for gold and some other major markets then please check our video   from Nov 13th. You will find out where we think the markets are headed next.

Gregor Horvat

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!