Jade Capital Partners

Hi Traders,


For your knowledge, this is what I do. For more details contact me or Jade Capital Partners by following the link below.

Jade Capital Partners - Mario D. Conti

GOLD: the end of the downtrend?

Hi Traders,

For the last 2.5 years I repeated that Gold (now at 1076) was going to bottom down in the area 1032-1044. It actually touched the support at 1046 on Dec 03 and finally reversed a downtrend lasting since Sept 06, 2011.

If this analysis is correct we just started a new major uptrend that should take it to the area at 1520-1530.

NOTE: The Elliott Wave Analysts usually work on a possible alternative waves count. It's worth noting that both configurations point upwards, although the secondary target is limited to level 1307. 


CLOSE  RANGE TARGETS: 

a) 1098
b) 1129
c) 1170


LONG RANGE TARGETS: 

a) 1322-1334
b) 1431
c) 1520-1530


ELLIOTT WAVES

The monthly and weekly charts display the lowest low at 1046 i.e. very close to the suggested target area at 1044-1032. Note the blue lines (targets) in both charts.


The daily chart shows the very end of the 4 years trend (51 months). The 4-hour and 1-hour charts display a possible entry point at 1069.50 (blue line).

Monthly chart, click to enlarge

Weekly chart, click to enlarge

Daily chart, click to enlarge

4-hour chart, click to enlarge

1-hour chart, click to enlarge