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Gold Decline Corrective Thus Far

Gold Decline Corrective Thus Far

2011-03-28 15:03:00
Jsaettele,
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60 Minute Bars

eliottWaves_gold_2_body_gold.png, Gold Decline Corrective Thus Far

Prepared by Jamie Saettele

A break of long term trendline support is needed in order to suggest that an important top has formed in gold. The trendline is at 1362 this week. Near term, the decline from the top is in just 3 waves which is corrective. An extended drop and 5 wave decline is needed in order to suggest that a more important top is in place.

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