Elliott Wave technical analysis with trading signals for Gold, WTI Oil, SPX, NASDAQ, DJIA
NASDAQ
We could have seen the end of an impulsive wave higher as the 5th wave is unfolding and we have an expanding flat for the end of the 5th wave which could end here or around 14400. We are looking to short against 14500. A break below 13600 is required for confirmation.
GOLD
Gold invalidated the 5 waves impulsive decline and is in the extended 5th wave of the upside. We had 3rd wave finish at the 2074 and a pullback in the 4th wave. Break above 1900 again is needed for a 5th wave extension. A break below 1700 will lead to an upside count invalidation or a larger pullback which we don’t have so a 4th wave pullback seems to be finished. We need to see a break above 1800 for the upside continuation.
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