Metals Are Looking Bullish; Gold Targeting $1170

By: Gregor Horvat | Thu, Sep 24, 2015
Print Email

Metals are in bullish mode in this week with gold now trading above 1150 so we think that price is underway to 1170 high from Aug 24th. We are tracking impulsive structure, currently within extended red wave iii) headed up to 1160-1163 zone. Also notice that gold is stronger than silver these days, but silver is showing a three wave decline from 15.43 to 14.72 so if price will make an overlap with 15.10 then downward correction will be confirmed as completed. In that case even silver which is weaker than gold, should move to the upside. And this means that gold should have no problems to hit 1170.

Gold Chart

XAUUSD Chart

XAGUSD Chart

Trade well,

 


What Can You Get For 1€? At ew-forecast.com Try 1 Month Full Service >> http://www.ew-forecast.com/register

 


 

Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

EW-Forecast: To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!

Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.

Copyright © 2013-2017 Gregor Horvat

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com