Elliott Wave Intraday Swings for GOLD and DAX
GOLD is moving sideways for the last couple of trading days, which we think it represents an incomplete corrective decline from 1331. We are looking at wave (b) that should be made by three legs, but until now prices have made only one leg down, so looks like that rally from 1309 is subwave b) that may look for a resistance around 1324. Ideally we will see a wave c) down in this week to 1300 level. However, these intraday downward swings are temporary within bigger uptrend!
GOLD 1h Elliott Wave Analysis
DAX surprised the traders yesterday and turned bearish quite sharply in the last 24 hours. We see a decline as part of ongoing corrective wave. We are looking now at wave four that can be even a triangle, but we will have to wait on more price data then, before we may look up in wave (v), back to all-time highs.
German DAX (September 2014) 1h Elliott Wave Analysis
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