Elliott Wave Analysis: GOLD Facing A Probable Reversal Near 1165/1170


Gold is trading away from 1123 December low but notice that recovery is overlapping which is typical the price structure for a corrective move. As such, we are tracking wave B that can be made of a double zigzag, so we suspect that sooner or later downtrend will resume. Ideally market will turn down from 1165-1170 area.

CHECK OUR 2016 Now and Then Charts>> http://ew-forecast.com/newsletter/

Visit our website and Get more charts and forecasts at www.ew-forecast.com

You can also follow us on twitter @ewforecast

Gregor Horvat
Chief Technical Strategist


Previous articleNewgen Concepts Inc (OTCMKTS:VPOR) Secures Exclusive Distributorship of Easy Grinder
Next articleTautachrome Inc (OTCMKTS:TTCM) Sets Roadmap for 2017
Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.