HomeContributorsTechnical AnalysisGold Bears are Back in Play: Elliott Wave Analysis

Gold Bears are Back in Play: Elliott Wave Analysis

US Dollar Index, DXY still eyeing for more upside, out of a triangle while SP500 is approaching resistance. Risk-off will be a catalyst for more dollar strength, even vs. some comm. currencies. The question is what can cause risk-off? Well, it can be a disappointment for Ukraine-Russia talk that just started in Turkey.

Gold is coming down after three up, so bears are back in play and they could extend even lower this week, below 1895 as the corrective rally should be fully retracted.

Gold 4h Elliott Wave analysis

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