Elliott Wave InternationalmyEWISocioniomics.Net
Home > Gold and Silver

"Our Excellent Road Map in Gold Continues": Next Stop, Sentiment
The November 7 & 8 analysis by EWI's Metals Specialty Service packs a double wallop with a clear Elliott wave structure and compelling sentiment picture in gold

By Nico Isaac
Thu, 08 Nov 2012 16:30:00 ET
Add to Facebook Add to Twitter Email to a friend Printer Friendly

On Nov. 7, we alerted you to a "textbook" Elliott wave structure unfolding on several gold charts across several time frames. (Click here to review that article)

This was the first clue to support EWI's Metals Specialty Service's near-term gold analysis.
 
Now, we can reveal that another, crucial piece of the puzzle has fallen into place: Sentiment.
 
Here, in the latest, Nov. 8, Metals Specialty Service's daily update on gold, editor Mike Drakulich writes:
 
"Gold ETF Holding Set Records In London" -- from this morning.
 
"Holdings in gold exchange-traded funds (ETFs) reached a record 2,588.4 metric tons on Nov. 1, which was valued at $140 billion. According to Bloombergdata, holding in gold ETFs in the past three months have enjoyed their best run since August 2011."
 
"When I saw the upper headline this morning and then found the article from a week ago I knew it would get top billing in today's update. Why?
 
"Because...with all the large 5-wave declines I have shown you the past few days...there is nothing better than to have bullish sentiment this extreme [at this juncture].
 
"There are never any guarantees, but when I see extreme bullish sentiment like this and the charts are speaking with a clear... voice, it gives me a lot of confidence that [my] outlook is correct. 
 
"Our excellent road map in GOLD continues..."
 
The Elliott wave and other technical evidence for gold's next big move is mounting. Don't let the next opportunity in gold pass you by -- read our Metals Specialty Service's full analysis and forecast online now.
 

Be Ready When METALS Flash "Opportunity"

EWI's Metals Specialty Service alerted subscribers to a developing triangle pattern in gold which helped them prepare for the upward "thrust" that has since followed.

Timely updates like these can make all the difference when evaluating your position.

Elliott wave analysis is not a crystal ball, but it can help to turn endless possibilities into manageable probabilities that you can put to use in your trading strategy.

Be ready for NEW opportunities in gold, silver, copper and other major metals. Get timely forecasts and intensive Elliott wave analysis right now to help you make smarter trading decisions.

Learn more about Metals Specialty Service >>

 

 

 

 

 

 

 

 

 
 
 
 
 

Rating: - based on [9 rating(s)]
Rate this content:
  
 
Sign up to get Elliott wave content delivered to your inbox

Join more than 250,000 traders and investors who receive our FREE market insights and educational resources via email.

We respect your privacy. TRUSTe


Stay Ahead of the Trend in U.S. Stocks

FFS 
EWI's Financial Forecast Service equips you to think, trade and invest independently from the crowd. Here's what you'll get, risk-free:
  • Short Term Update -- Intensive forecasts and analysis3x/week for U.S. stocks, gold, silver, bonds and the U.S. dollar.
  • Financial Forecast -- In-depth,intermediate-term perspective on U.S. stocks, gold, silver, bonds and the U.S. dollar.
  • Theorist -- Bob Prechter's monthly big-picture insights.
Put the Financial Forecast Service on your screen in minutes, risk-free>>


Free 20-page eBook


How to Use the Wave Principle to Identify Actionable Opportunities in Gold & Silver

In December 2010, the conventional wisdom claimed the fundamentals were unanimously bullish -- and that gold & silver would continue higher. Yet in December, EWI's Metals Specialty Service identified a textbook Elliott wave pattern: a "contracting triangle." This 20-page eBook walks you step-by-step through this opportunity-identifying pattern, by using an in-depth, real-world trading example.
Download your free 20-page eBook.

Gold and Silver


© 2014 Elliott Wave International

The Elliott Wave Principle is a detailed description of how financial markets behave. The description reveals that mass psychology swings from pessimism to optimism and back in a natural sequence, creating specific Elliott wave patterns in price movements. Each pattern has implications regarding the position of the market within its overall progression, past, present and future. The purpose of Elliott Wave International’s market-oriented publications is to outline the progress of markets in terms of the Wave Principle and to educate interested parties in the successful application of the Wave Principle. While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will Elliott Wave International make specific recommendations for any specific person, and at no time may a reader, caller or viewer be justified in inferring that any such advice is intended. Investing carries risk of losses, and trading futures or options is especially risky because these instruments are highly leveraged, and traders can lose more than their initial margin funds. Information provided by Elliott Wave International is expressed in good faith, but it is not guaranteed. The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities. Please ask your broker or your advisor to explain all risks to you before making any trading and investing decisions.