On August 18 2016 I called for a rally higher to 2.64 in wave iii. Along the way the structure changed, but the expected rally higher to 2.64 was still spot on. Now a little more than a year later, copper is topping near 3.12 and it should just be a matter of time before a decline to at least 2.83 and likely even closer to 2.48 is seen.
This is not my work, just sharing for investors with exposure to Equities & Stock Market Exposure. You can find the originals and others, including daily/intraday very short term "squiggle counts" here: danericselliottwaves.blogspot.com Wilshire 5000 Monthly Elliott Wave Chart: 2.bp.blogspot.com Wilshire 5000 Daily Elliott Wave Chart: 3.bp.blogspot.com Global...
Direct Line Group continues to trade within a medium term downtrend. In the last couple of sessions we have seen a rejection at the medium term trend resistance line and also the top of a range that has developed over the past few months. This rejection is likely to trigger a move to the lower end of the channel at 332p. 332p is a huge support level that has...
GBPUSD has formed two bearish harmonic patterns after breaking out of a symmetrical triangle. Will be looking for possible decline. This is for my self education purposes, not likely to trade this trade as I don't at the moment hold my positions overnight and rather scalp intraday instead. But as I am always curious about various market assessment methods and...
Looking at the charts for Lumber Futures, I was originally upset that I missed the absolutely insane rally in Lumber going back to the start of 2016. However, no use in getting pissed about the past, let's focus on the present. Lumber just formed a double top with price around 400 going back to 2013. I am waiting for confirmation of a bearish reaction to the...
Silver seems to be forming a topping structure, there is a major supply zone around 18.40, if price can close below the trend line i would be short to around the next trend/200EMA. The RSI is also losing momentum and showing a divergence with price. Weaker than expected NFP could be the catalyst needed here.
My analysis indicate that we are forming a top in the stock markets.
Here's a look at a "mega" weekly pitchfork and major price pivots. The way I drew it, price has recently reacted to the median line, with highs reaching just above the 0.625 pitchfork level (each line is a 0.125 increment of a pitchfork). Of course, this isn't really a valid pitchfork, since prices have never reached the 1.0 level in the first place to create...
We have three head and shoulders patterns nestled within one another like Russian dolls. The first two patterns are now confirmed and have played out, and now a return to the neckline number 2 (yellow line) will give a good short entry for us to aim to break the third neckline (green) and continue a correction of the rise since mid February. If that third...
As I've said before. Volume divergence is the mark of a weak market movement. Smart money is not buying right now. The peaks of volume have coincided with selling from levels like the one we're currently at, so we should see more of that to come. The price in the last rally and today has gone up on the lowest level of volume we've seen in months. Down it goes
Rest of hope in the Markets similar to 1994, but now we have not the positive divergencies as in 1984. Today some divergencies are visible but not so powerful. Comparable divergencies in 2000 and 2008 downstream had only short term influence. And in the last indicator you can see the missing link, no action in 1984 but in 2000, 2008 and today.....
With all the ETH madness going on last week it follows the classic altcoin bubble cycle pattern. we have seen many coins doing this kind of cycle like DRK and LTC. be careful buying eth here because if history repeats u will get rekt buying the top here.
A small trade possibility. Market pretended to breakout here on very weak volume at strong resistance. and will probably retest the last higher low and may go lower.
NZDUSD has turned over after being extended to the upside , and a near term possibility is laid out below. Tripple top can be seen in the chart with rejected Pin bars. www.sz-ventures.com
This looks very much like a topping formation to me, especially with the market stalling yesterday before the previous highs (denoted by the "head" on the chart). I'd be interested in selling rallies, with at least a target of 1837, though preferably a much lower target; 1800 and the 200 EMA beneath it may also be viable targets.