GOLD Elliott Wave Analysis: Bearish Wave In Action

Gold has recovered up to 1320-1342 resistance area that we highlighted it several times in our past updates. We also noted that bearish reversal could be near if we consider a double zigzag from the low. Well, market fell very sharply in this week through the lower support line of a corrective channel that suggests a completed wave (b). With that said further weakness is now expected down to 1277 low and possibly even to 1240 level.

GOLD 4h Elliott Wave Analysis

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Elliott Wave Analysis For S&P500 April 10 2014

S&P500 found a support in the last 48 hours after a completed impulse decline from 1892. As such, current rally can be sharp corrective recovery that should then find a top somewhere around 1865/1870 zone. A reversal from here and back to 1844 would be a strong and important evidence for a downtrend continuation to a new swing low and possibly even to 1800.
S&P500 4h Elliott Wave Analysis

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USDCHF Elliott Wave Analysis: Bearish Reversal In View

USDCHF has turned nicely to the downside since Friday, clearly in impulsive manner. Notice that market also retraced back to the area of wave B swing low after a broken support line of an upward channel. That's a very strong and important evidence for a trend change, thus it suggests that top has been formed at 0.8951 and that market will continue to the downside after any short-term corrective bounce. Ideally we will see a wave 2 retracement back to 0.8870/90 where broken support line may not become a resistance.

USDCHF 4h Elliott Wave Analysis

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S&P500 Up To 1900? Elliott Wave Analysis

S&P500 broke above 1876 and is now approaching all time highs, so we adjusted the wave count and now looking for a five wave rally in progress from 1833 swing low. At the moment leg still cannot be counted in three waves, so looks like price will stay bullish for the next few sessions and possibly hit 1890/1900 area.

S&P500 4h Elliott Wave Analysis

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