Gold could slow down after 11 weeks of steady rise. The chart below suggests that gold has completed three out of five possible waves of advance. From now on there are two possibilities. First: gold will be limited to a corrective A-B-C. Two: Gold will decline in wave (4), but will rise again in wave…
The chart below was posted on our Facebook page on January 2, when the price of gold was 1210 $. We would like to remind you that back then all the fundamentals were pointing down. Some experts even stated that gold will go below 1000 during the first two months of 2014. We, at Elliott…
Mass psychology plays a key role in forming trends in precious metals. The specific about precious metals is that they tend to form extended fifth waves in case of greed or fear of inflation. Silver has been trending down since 2011 and has lost its value by more than 50%. The first mania in silver…
Gold has been trading on the free market since the end of the Bretton Woods system in 1971. From then on, mass-psychology has been playing his role in shaping gold’s price movement. And since patterns of mass-psychology are the subject of the Elliott Wave Principle, we are able to presume where the yellow metal is…
