Gold has long been seen as the refuge for investors who are concerned about economic downturns and inflation. And it’s tempting to attribute the metal’s price movements to factors like supply and demand, the dollar and interest rates.
But Elliott wave analysis shows the actual driver of gold prices is … market psychology.
Elliott wave analysis is the only method that objectifies market psychology and helps you use it to your advantage.
Our friends at Elliott Wave International take a look at the trends in gold to show you where prices are heading next.
As you’ll see, the Elliott pattern right now is as clear as ever.
Who is Elliott Wave International?
EWI is the world’s largest independent technical analysis firm. Founded by Robert Prechter in 1979, EWI helps investors and traders to catch market opportunities and avoid potential pitfalls before others even see them coming. Their unique perspective and high-quality analysis have been their calling card for nearly 40 years, featured in financial news outlets such as Fox Business, CNBC, Reuters, MarketWatch and Bloomberg.