CPI in Euro zone came lower again which goes in favor of ECB reaction. I wanted to show you here one more option on GOLD in anticipation of a downside correction on US indices. We expect flat correction which means 5 waves down after 3-3 up. So same on GOLD is possible to the upside in attempt of investors to seek refuge from falling stock market. We need 5 waves up to confirm low signature.

GOLD 4h Elliott Wave Analysis

If you like commodities here is one we monitor closely. Wheat futures are just about to close the gap before reversal is possible on the long side. If this is flat or abc down is not so important. In both cases we expect reversal from gap area/red lines/. Here, 4 h chart gives better perspective. Goes well with commodity market higher.

WHEAT 4h Elliott Wave Analysis

Written by www.ew-forecast.com | Try our 7 Days Free Trial Here

Ew-forecast.com is providing advanced technical analysis for the financial markets (Forex, Gold, Oil & S&P) with method called Elliott Wave Principle. We help traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our view and bias as simple as possible with educational goal, because knowledge itself is power.

Gregor is based in Slovenia and has been in Forex market since 2003. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets; from candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful to traders.
He was working for Capital Forex Group and TheLFB.com. His featured articles have been published in: Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu. He mostly focuses on currencies, gold, oil, and some major US indices.

© 2014 Copyright Gregor Horvat - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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