By Gregor Horvat
| Nov 25, 2012 10:00AM GMT |
We expect rise into a new high on gold after recent sharp rally through red resistance line connected from all-time highs. This break is now very similar to the one that occurred in 2009 when gold was trading around $900 per ounce. In fact, from an Elliott Wave perspective this recent price action definitely looks corrective, a nice wave IV that will put wave V in progress, possibly towards $2000 per once.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.