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The elliott wave practitioner, 8 March 2009, SPOT GOLD, SPOT SILVER

In this video I revisit the price action of SPOT GOLD and SPOT SILVER. The first thing to be said about the GOLD chart is that it does not show 5 waves down. So we have to work with several alternatives. BUT the important thing in this video is, in my opinion, the fact that SILVER does show a clear and complete 5 wave down pattern. This pattern strongly suggests that after a brief correction the metal is doing now, it will be heading down in a big way. So I tend to think that GOLD will also do the same, as these precious metals do act very much in a similar way.

Added: Mar-8-2009 Occurred On: Mar-8-2009
By: RoyTrader
Tags: spot gold, spot silver, daily chart, 60 minutes,
Views: 4580 | Comments: 2 | Votes: 1 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 1
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