WaveTrack International

Elliott Wave Financial Price Forecasting

Gold Bullion – Time to be a Contrarian!

by WaveTrack International| July 20, 2015 | No Comments

Gold – Time to be a Contrarian!

Gold – Time to be a Contrarian!

The Gold bullion declined over $53 dollars overnight as reports came through that half-an-hour after the Shanghai Gold Exchange opened, a Chinese source sold 5 tonnes of gold causing the sharp mark down of prices to a bullion low at 1081.30. Within minutes of the selling being completed, prices recovered quickly to 1114.80 as the London bullion dealers arrived at their desks to begin trading – there wasn’t much opportunity to buy at the cheaper levels, certainly not if your located in Europe or the U.S.

The sell-off traded smack into our long-awaited downside targets between 1096.00-91.16+/-, overreaching by just $9.8 dollars!

Gold - Daily Chart

Gold – Daily Chart

This latest action has far-reaching implications for the future of precious metals – one-by-one, all of the major commodity markets have been signalling the approach of a major ‘inflexion point’ – subscribe to the latest EW-Compass report and access the Gold/Silver forecasts, and the medium-term outlooks for Precious Metals and key indices like the GDX Gold Miners and XAU Gold/Silver Miners in our TWO-PART VIDEO SERIES.

GDX - Gold Miners Index

GDX – Gold Miners Index

XAU Gold/Silver Index Forecast

XAU Gold/Silver Index

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Category: Commodities, Elliott Wave Patterns, Elliott Wave Principle, GDX, Gold, Gold Mining, Precious Metals, Silver, trading, video, WaveTrack International, XAU Gold/Silver Index

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WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

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