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Another look at oil and gold
Recent declines in the price of Brent crude oil and gold increase our confidence in the downward paths we wrote about last week. With new pattern segments forming, we can now refine our price targets. While our charts last week featured daily price candles, today we're working with 240-minute candles to show how an Elliott Wave trader might anticipate price movements over a shorter time frame. We still have bearish expectations for both markets on daily and weekly time frames, even though some of the daily and intraday moves are likely to be upward. Could oil futures tick higher before downtrend resumes? Earlier this ... (full story)
