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 around 14400 or even 15000. We are looking to short but only upon a break below 12900 is required for confirmation of a new impulsive downside count and for the 5 waves up the end.
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 1900 again is needed for a 5th wave extension. A break below 1760 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 confirmed break above 1850 for the upside continuation but we do not have it.
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