Jan 24, 2010

Elliott wave count on Gold-update

         
            A serious correction towards the $930 level, painting "running flat" could shake out the speculative community while keeping the precious metal in a longer-term uptrend. As I mentioned in my previous update, a strong selling pressure is expected. Short term I see at least "X" corrective wave level area as possible target ($930). If the GOLD decides to paint an "expanded flat" the price might drop to deeper levels, around $650.


No comments: