GOLD Elliott Wave Analysis: Looking Towards $1260

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The US stocks opened slightly higher today which also has a positive impact on some commodity markets. We can see metals and crude oil moving slightly higher for the last hour or so. On Gold I slightly adjusted the wave count but the massage is actually unchanged. We see metal in intraday bullish mode heading up to 1260. Current sideways price action looks like a triangle in wave iv) of (c), so we expect a new leg up as long as 1236 holds.

GOLD 1h Elliott Wave Analysis

GOLD Elliott Wave Analysis
GOLD Elliott Wave Analysis

Written by www.ew-forecast.com

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