Elliott Wave 5.0 "Reboot"

Thursday, January 21, 2016

Gold Intraday Review: Impulse Power Going The Wrong Way!

This will be a quick review. I can fit this into an Impulse but it would be going the wrong way. The aggressive bullish wave count I did have has fallen apart, as critical waves have intersected or overlapped. Another zig zag heading down can happen, but that could send gold to new bear market lows. (below $1048)

At this time I have a wave 2 pointing up which is a very bearish wave count in the short term.