Will Risk-off Continue? Elliott Wave on GOLD and SP500 

intra-day gold

Gregor - Author BIO photo

 

Gold and silver are moving higher after another weak US data; weakest ISM non-manufacturing report in 3 years! We see them breaking to the high of the day, but it can be fifth wave moving into Elliott Wave channel resistance so market may start slowing down in the very near term, but only for a temporary set-back before bulls takes the price even higher.

GOLD, 1h

intra-day gold

 

Check the VIDEO below for a more detailed analysis,

 

Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.

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By Gregor Horvat

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