The New CS Board

[dindindon]

06/07/15 Gold

dindindon Thursday, 06/04/15 11:29:31 AM

GOLD short term bearish

retracement: 1232.80 (05/18) - 1142.40 (03/17)
supports: 0.786-1161.75

(EDIT: after typo fix-up)

Gold Future price marked a low 1162.10 on 06/05/15, as long as Gold Bugs can defend the critical support 1161.75 (0.786, standard deep retrace ratio), VST bounce for tactic scalp is possible. Be aware that gold price is very speculative in nature. Do You Own DD.

data source: http://www.investing.com/commodities/gold-historical-data


No matter how E-wavers label their wave counts, the projection target is engaging a set of Fibonacci series that comply with trend lines, chart patterns, and prior High/Low. Here are a few examples:

Gold update 2015
tony caldaro Posted on June 7, 2015
https://caldaro.wordpress.com/2015/06/07/gold-update-2015/

Gold is not finished with its Primary wave A decline. Therefore we would expect Gold to make lower low, or retest the low, before its Primary wave A ends. The low so far is $1,130. (EDIT: 1130.40 on 11/07/2014)

charts link: http://stockcharts.com/public/1269446/tenpp/10

GOLD Elliott Wave Technical Analysis
By: Lara Iriarte | Fri, Jun 5, 2015
http://www.safehaven.com/article/37881/gold-elliott-wave-technical-analysis

Summary: It is more likely this downwards wave is incomplete. Confirmation would come with a new low below 1,162.80, with the target at 1,157. Alternatively, it is possible this downwards wave is over now

Gold and Silver Move Closer to Breakdown
By: Jordan Roy-Byrne | Fri, Jun 5, 2015
http://www.safehaven.com/article/37879/gold-and-silver-move-closer-to-breakdown

Gold Sector, Big Picture
By: Gary Tanashian | Mon, Jun 1, 2015
http://www.safehaven.com/article/37830/gold-sector-big-picture

Gold And Silver - Too Many Are Still Getting It Wrong
By: Michael Noonan | Sat, Jun 6, 2015
http://www.safehaven.com/article/37885/gold-and-silver-too-many-are-still-getting-it-wrong