Gold - A small five wave rally has been seen of the 1,052.60 low indicating a firm bottom being in place

Gold - A break above minor resistance at 1,073 targets 1,098 and above

Gold - Termination of the ending diagonal calls for a return to 1,395

Gold - The decline from 1,920.74 has been in five waves indicating that after a correction towards 1,395 more downside should be expected

Gold - The ending diagonal ended at 1,052.60 

We have seen a small five wave rally of the 1,052.60 low and even though, we didn't see a decline to the ideal 1,033 target all requirements for the decline from 1,920.74 has been fulfilled and a larger rally back to the origin of the ending diagonal near 1,395 is now expected. 

As a five wave decline has been seen from 1,920.74 more downside action should be seen once the correction in wave B is over. When an ending diagonal terminates, a rally back to the origin of the formation should be expected in about half the time it took to develop. As it can be seen on the weekly chart this ending diagonal has taken 1 3/4 years to develop, so the recovery back close to 1,395 to take close to a year. 

PS! When you see a circled 1+ in the rigthhand corner, that means more charts are available. Click on the chart and use the taske-bar, seen in the middle on the bottom of the chart to see the other charts. Just because it says 1+ doesn't mean that only one extra chart is available, in this case 4 charts is available. 

Sublime Counts!
Hey EWS,

I just wanted to thank you for posting your charts. They are of great help to me. Your charts are a great teaching aid for learning Elliott Wave.


I recently tried a 30 day membership and I am very happy with the service. Pls keep up the great work!!! I will continue renewing!!