This Elliott Wave blog is dedicated to sharing Fibonacci ratios and other technical analysis for forex signals, index futures signals, options signals, and stock signals. Elliott Wave Principle puts forth that people move in predictive patterns, called waves. Identify the wave counts, and you can predict the market.
Saturday, February 14, 2009
Gold 5 Wave Decline; Feb. 14, 2009
Here is a 15 minute chart of gold futures which shows a 5 wave decline followed by a choppy corrective looking rally that has haulted fiercely at the 50% fibonacci level. Gold is bearish as long as it trades beneath $954.