WaveTrack International

Elliott Wave Financial Price Forecasting

AngloGold Ashanti Elliott Wave Update

by m.tamosauskas| February 14, 2015 | No Comments

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AngloGold Ashanti is already up +65% from its December ’15 low of 7.45 – one of the best performing gold mining stocks we are monitoring. The advance from this low has clearly unfolded into a five wave expanding-impulse pattern, labelled i.-ii.-iii.-iv.-v. in minor degree. Moreover, our fib-price-ratio analysis confirms this view: extending the net advance of waves i. to iii. (7.45-10.61) by a fib. 61.8% ratio, the ideal measured high for minor wave v. was at 13.08 whilst the actual high was recorded at 13.12. All of this is suggesting the directional change to the upside. Shorter-term, the counter-trend decline from the 13.12 high is currently in progress with minimum downside objectives measured towards 10.57+/- – a fib. 38.2% retracement level of the preceding advance. Once tested, a reversal signature to the upside would confirm the resumption of the larger advance.  The next surge higher is expected to be larger than the initial advance (7.45-13.12), so stay tuned, the ‘inflation-pop’ scenario is on the corner!

Category: AngloGold Ashanti, Commodities, Elliott Wave, Elliott Wave Charts, Elliott Wave Patterns, Gold, Gold Mining, Precious Metals, WaveTrack International
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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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