Gold broke to the upside yesterday as expected, market is now rallying in wave v of iii) that reached levels at 1322 today, just $1 away from 261.8% Fibonacci extension target. From that area we may see a reversal back into a fourth wave, that will be just another correction within ongoing strength.
GOLD 1h Elliott Wave Analysis
On German DAX we have seen a new low yesterday, a decline beneath 0.9000. But break-down came from a triangle and we know that triangles occur prior to the final move within a larger trend, so sooner or later market will recover. Ideally we will see a bounce in three legs back to former wave (iv) @9160.
German DAX (September 2014) 1h Elliott Wave Analysis
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