Elliott Wave Overview: Gold and Oil Are Looking Bullish

From an Elliott Wave perspective the price action looks nice and clean on several markets, for possible trading set-ups, but unfortunately not much on the FX. I am looking gold, and tracking short-term bullish wave pattern. Current minor pull-back could be wave four, with wave five in view. For any long scalps, keep an eye on 1297 for invalidation-stop level.
GOLD 1h

Oil is also looking bullish, but on 15min chart this time where five waves from the low suggest that price will travel higher in the near-term. Any longs here should have stops at the lows. First support of interest comes in at 103.50-103.70.
OIL 15min

Trade Well,
Grega

Source: http://www.fxstreet.com/analysis/reports/elliot-wave-corner/2013-08-09.html

mermaids Memorial Day Quotes Epic Tim Curry bridge collapse Fast And Furious 6 Tony Kanaan