close icon

Gold’s Surge Predicted Three Months Ago

Gold’s Surge Predicted Three Months Ago

It has been almost three months since we published “Gold May Have Found the Bottom” on November 16th, 2015. When gold was knocking on the door of the 1000-dollar mark and the fundamental picture seemed to be showing no end in sight for the bearish trend, we decided to take the other way and post a highly bullish forecast. We did it, because the weekly chart of the precious metal allowed us to recognize some Elliott Wave patterns, suggesting we should prepare for a “swift and sharp” reversal. The chart in question is given below.
gold 16.11.15
The patterns, which warned us about the upcoming strong recovery, are the triangle in wave “b” of Y and the ending diagonal in wave “c” of Y. Even without looking at the rest of the decline since 2011, these two patterns told us everything we needed to know – that the bulls are ready to surprise everyone.
gold 15.2.16
Which they did. Gold officially bottomed at $1046 and started rising, just as the Elliott Wave Principle predicted. On February 12th, 2016, the price of the yellow metal exceeded $1263. In the meantime, an article by Bloomberg said that “even the combined brains of the biggest gold dealers, refiners and investment bankers failed to imagine just how much the precious metal would soar this year”. In our opinion, that is because gold dealers, refiners and investment bankers do not use the Elliott Wave principle. We do. And we are more than satisfied.

What to expect from now on? Is gold going to continue even higher or the resistance near $1260 would turn out to be too strong for the bulls to breach? Prepare yourself for whatever is coming. Order your on demand Elliott Wave analysis now or pre-order the one due out next Monday at our Premium Forecasts section. Stay ahead of the news in any market with the Elliott Wave principle.

Are you an investor or a day trader?

Our advanced Elliott Wave analyses of the most traded markets can provide you with clearer perspective in your trading or future investments. Stay ahead of the news with the Elliott Wave principle.

Go Premium »


   5 thoughts on “Gold’s Surge Predicted Three Months Ago
  1. Hi Could you please show the 3 wave structure in the 5th wave of the ending diagonal for wave Y.
    I am not able to see the abc structure for 5th wave. Your help is appreciated.

    1. Hello Author, Hope your doing good. When you see this message, please take min to respond. I need a clarification. From the above chart, I see that you have drawn wave co Y as ending diagonal. But 5th wave of ending diagonal doesnt have 3 waves structure. If you still believe that was ED could you please spare a moment to show me the 3 wave structure. Because I have been breaking my head on this.It would be of great learning for me if you could show the 3 wave structure for the 5th wave.

      And on the other side, I would like to bring a point to your attention. wave c of X (at the top) looks like a clear 3 wave movement but you had marked it as wave C. Why is it so? any specific reason. Please help me to understand better. Thank you

Leave a comment:

Your email address will not be published. Required fields are marked *