Gold Price Recovery Faces Resistance
Commodities / Gold and Silver 2014 Feb 13, 2014 - 10:40 AM GMTGold is at the new highs after breaking out of a triangle at the start of the week. We see price now moving up in wave (c) of a second zigzag that may form a top in current 1290-1300 area. Keep in mind that despite higher highs and higher lows we think that move from 1181 is corrective, thus temporary recovery so we need to be aware of a bearish turning point in coming days. An impulsive fall back 1254 will suggest that highs are in.
GOLD 4h Elliott Wave Analysis
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