Elliott Wave Analysis For GOLD and OIL Intraday

By: Gregor Horvat | Tue, Apr 29, 2014
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We have turned bullish on gold last week and based on later price action we may see continuation to the upside in this week. we are looking at three wave set-back from 1306 with nice projected support for wave c around 1282-1285. If we see that hold, and reversal up to 1300 then 1310 and 1320 will come in play.

GOLD 1h Elliott Wave Analysis

GOLD 1-Hour Elliott Wave Analysis Chart

Crude oil reached new lows yesterday around 100.30 but rallying today back to 101.40/60 zone which now looks like a flat correction in wave iv). We expect a resumption of a downtrend in the next 24-48 hours.

Crude Oil (June 2014) 1h Elliott Wave Analysis

Crude Oil (June 2014) 1-Hour Elliott Wave Analysis Chart


 

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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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