GOLD And OIL Intraday: Elliott Wave Analysis


GOLD is moving very slow in tight range for the last two trading sessions so we think that price is trapped in wave iv corrective retracement which stall can reach 1250 -1255 zone before downtrend resumes. Any intraday shorts should have stops placed around 1265 or higher.
GOLD 1hGold Elliott Wave 112213

Gold Elliott Wave 112213

Crude Oil remains bullish on the intraday basis within wave (c) that may reach levels around 96 maybe even $97 before a contra-trend (a)-(b)-(c) move can be finished. Keep in mind that larger trend is still down, so dont be surprised by a bearish reversal from the levels mentioned above, probably next week.
Crude Oil (Jan 2014) 1hOIL Elliott Wave 112213

OIL Elliott Wave 112213

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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 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.