Elliott Wave technical analysis with trading signals for Gold, WTI Oil, SPX, NASDAQ, DJIA
NASDAQ
We are seeing another bounce from 14400 support and the end of 5th wave is not confirmed. We could have an ending f the 5th wave near 16600 now. We are to go long against 14700 for the last swing higher before a possible reversal. A break above the 15150 will confirm this. We do not have confirmation still and now only a break below 14500 would lead to a 5th wave invalidation.
GOLD
Gold invalidated the 5 waves impulsive decline and is in the extended 5th wave of the upside. We had 3rd wave finish at 2074 and a pullback in the 4th wave. Break above 1850 again is needed for a 5th wave extension. A break below 1670 will lead to an upside count invalidation or a larger pullback. We need to see a confirmed break above 1820 for the upside continuation.
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