Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
💎 Access the Market Tools Trusted by Thousands of Investors Get Started
Gold Weakness Probably Maturing
www.investing.com/analysis/gold-weakness-probably-maturing-200333443
Gold Weakness Probably Maturing
By ESI Analytics Limited | Jul 26, 2018 06:52AM ET The minimum target for wave C of a triangle has been reached last week. Nevertheless, Gold is likely to progress further to the downside within at least another up-down sequence. Our preferred path is depicted in red. The red scenario may even extend further to the downside, which we will analyze as/if wave structure unfolds to the downside.
The alternative scenario shows a significant bottom in gold on last week slow. This is a possibility and it fits into the Elliott wave framework. However, it is way too early to call for a reversal here. There is not much evidence for that besides a potentially complete Elliott wave picture. Therefore, we see about 60 / 40 odds in favor of the red scenario. Getting above the 1268 level challenges our red scenario and suggests that we saw a significant low last week.
All in all, we are no longer bearish on Gold but turn carefully neutral. We still expect to see a significant low within the next few weeks.
Related Articles
Dead Ends Ahead for Silver
By Alex Demolitor - Sep 22, 2023
2
With the fundamental roadblocks adding up, silver confronts a bearish outlook at nearly every turn. With the FOMC’s hawked-up SEP and Powell’s inflation focus upending several risk...
Oil: Will Putin Be Second Time Lucky Weaponizing Global Supply?
By Barani Krishnan - Sep 22, 2023
54
Russian leader eager to use oil supply, price to hurt Biden and other rivals Joined by the Saudis, Putin's plan has greater odds of success in a cold winter Those targeted may...
Which Countries Are Most Vulnerable to $100 Per Barrel Oil?
By Frank Holmes - Sep 22, 2023
As Brent crude edges closer to the symbolic threshold of $100 per barrel, nations and industries worldwide are bracing for the impact. The surge to nearly $95 this week marks a...
Gold Weakness Probably Maturing
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.