On May 16th, when gold was trading near $1225, we published “Gold Prices Facing Fibonacci Resistance?”, saying that “the yellow metal could lose another 100 dollars of its value. Or even more.” The chart below shows how the Elliott Wave Principle helped us come this conclusion. As visible, we were expecting the price of gold…
Gold has been considered the ultimate safe haven for many years. That 30% decline in the price of gold in 2013 showed that the market simply does not care about traditions. Want to know where bullion and other precious metals are going next? This is the section to be in.
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Silver Bears To Take A Rest?
It’s been more than a month since the price of silver topped at $17.75 on May 18th. The bears have been in the driving seat ever since, which led the precious metal to $15.52 as of June 26th. This steady decline by $2.23 in just six trading weeks might convince you now is a good time…
Gold Prices Facing Fibonacci Resistance?
It has been more than a month since our last update on the gold market. In “Gold Bulls On The Losing Side Again?”, published on April 7th, we called a top at $1224, which was supposed to give a start to another sell-off. Indeed, the price of gold fell to $1170 on May 1st. However,…
Gold Bulls On The Losing Side Again?
The last time we wrote about gold was February 17th in an article, called “Gold Bears Ready For The Last Fight”. The yellow metal was trading around $1220, while we were expecting the decline to continue. The chart below shows what the Elliott Wave Principle was suggesting almost two months ago. As visible, we were…
Palladium Fulfilling The Bears’ Desires
“The bulls must be careful, because a reversal to the downside is likely to occur. A reversal, which could be the beginning of a larger move to the south with the potential to lead prices below $730.” That is what we wrote about palladium on March 9th in “Fibonacci To Force Palladium Down”. Our bearishness was based…
Fibonacci To Force Palladium Down?
Palladium had some very successful weeks recently, climbing up to above $830. Last week the precious metal fell by 20$, but it seems this was just another buying opportunity for the bulls. How high should palladium be expected to go? Are the bears going to return soon? Let’s take a look at the chart below,…
Gold Bears Ready For The Last Fight?
On November 6th, 2014, we published “Gold With More Than One Option”, where there were two charts. Both of them were showing, that after $1131, we should expect a recovery. One of the wave counts suggested for a larger advance, probably towards $1250. A reminder of that analysis is given below. Gold was expected to…
Gold Heading to $1160 Next Week?
The price of gold went close to $1240 in the middle of December, but the bulls have not been that strong ever since. On Friday the precious metal fell to $1167 but bounced up sharply to close the day at $1188. In order to find out where gold is likely to be heading next, we will…
Silver Prices Still Going South?
Despite silver’s strong 3-dollar recovery from 14.30 to 17.30, the bulls were unable to keep the momentum. As a consequence, the price of silver went down to the 15.50 mark again. The most important thing is the wave structure of this decline. As the chart below demonstrates, it is a five-wave impulse. Note that the…
Palladium With Two Bearish Counts
In our previous forecast of palladium we suggested, that the precious metal is probably in the middle of an A-B-C zig-zag correction to the upside. We thought so, because there was a complete five-wave decline before that. The Elliott Wave Principle states, that every five-wave sequence is followed by a three-wave correction in the opposite direction. On…
It Took Silver Only Ten Days
“This recovery could be limited under the $17 mark… We should not be surprised by price of silver below $15.” It was November 21st , when we made this forecast about silver, titled “Price of Silver: Upside Could Be Limited”. Ten days ago we pointed out, that the wave structure of silver’s recovery seems to be corrective. The chart…
1210 To Discourage Gold Bulls?
More than two weeks ago, on November 6th, we published an article, called “Gold With More Than One Option”. In this material we gave you two alternative counts of gold, both of which suggested for a corrective recovery. The only difference between the two scenarios was in the depth of the anticipated retracement. Here we…
Silver: Mission Accomplished. Now What?
“We should not be surprised by prices around 16.00… maybe even lower.” This is the last sentence of an article, called “One Last Breath for Silver”, which we published on July 12th, 2014. When we made that forecast silver was trading slightly above 21.40. So, four months ago we were expecting a decline of at least…
Gold With More Than One Option
In the Market nothing is static. Everything is constantly changing. Traders can never be certain about the future. That is why they should always be prepared for more than one scenario. More than four months ago, on July 3rd, 2014, we published “Gold, 1100 visible in the long term”, which showed you our big picture…
Gold took out 1180. Should you sell now?
“If this is the correct count, the support zone around 1180 may finally surrender… for a while.” We said that more than two weeks ago, on October 14th, when we showed you our primary forecast of gold. In “Is Another Decline Coming for Gold?” we were expecting the completion of wave (4) to the upside and…
