Gold Targeting 1430, 1440

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Gold has been the safe haven investment for a Long time, and now nothing is different, the market is targeting new All-time highs!

As we can see on the chart below, wave (iii) has found the top around 1418 region in the past week from where prices moved lower, but only into a wave (iv). Wave (iv) is a corrective wave, which means that bulls should continue into a higher blue wave (v) in this week, since we are monitoring an impulsive continuation from 1308 lows!  But meanwhile gold prices must stay above critical 1367 support, as we know that wave (iv) must never trade into a territory of a wave (i).

Gold Aiming for New Highs - March 1
Next upside targets are at 1430 and 1440 regions!

Guest post by Gregor Horvat.

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About Author

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!