Gold Elliot wave update

18 Haz 2015

Gold broke out consolidation today and breach the previous spike high 1203. This price move invalidate my previous count. Now I switch my view bullish and looking for a rally towards 1240 area for a completion of the expanding triangle. The path is still unclear as the market is facing strong resistance from previous spike high. If the price fails to keep the move impulsive in the next 48 trading hours. We could enter a choppy wave b before charging high impulsively. Stand aside for now and buy pull back towards 1188.