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Waveanalyses

Brent: Hang on! 🐻Bulls and bears are competing for preeminence, and both of them have gained the upper hand now and then. In the long run, we expect the bears to win this battle, though, and to drag Brent to the green zone between $77.10 and $42.16, where it should finish wave III in pink. After a short countermovement to complete wave IV in pink, Brent should enter the blue zone between $66.48 and $59.58, which is enclosed in the green zone and where wave V in pink and wave 3 in blue should end. Another countermovement should then lead Brent upwards again before it should dive into the green zone once more to finally conclude the overarching downwards movement. However, there is a 32% chance that the bulls could be stronger and drag Brent above the resistance at $95.76, which would then result in a detour until the next mart at $105.42 before the bears can take charge again.
TVC:UKOIL
by MarketIntel
DAX: Startle ReflexesWe don’t know what has startled DAX so much that it has jumped upwards and has come quite close to the mark at 12425 points again – maybe, someone tested its startle reflexes… However, the index is already back on track and should continue to move downwards into the pink zone between 11421 and 11060 points to finish wave III in pink, which it could also do in the slightly lower and larger blue zone between 11352 and 10828. Afterwards, DAX should perform a countermovement into the upper pink zone between 12129 and 13066 points, before dropping into the big green zone to complete the overarching downwards movement. Indeed, wave 2 in green could also end in the blue zone between 9980 and 9456 points, which provides a little bit more room southwards.
EUREX:FDAX1!
by MarketIntel
Pan American Silver: Little Room Left… 🤏Pan American Silver has made extensive use of the blue zone between $21.88 and $13.94 and has little room left to finish the overarching downwards movement. As soon as it has completed wave (ii) in blue, though, it should turn around and gather enough upwards momentum to head for the resistance at $40.11. However, there is still a 45% chance that Pan American Silver could break through the bottom of the blue zone and drop below the support at $10.61, which would then trigger further descent below the next mark at $5.38.
P
by MarketIntel
Ripple: Fighter 🥊🥊Makes me that much stronger Makes me work a little bit harder It makes me that much wiser So thanks for making me a fighter Made me learn a little bit faster Made my skin a little bit thicker Makes me that much smarter So thanks for making me a fighter Although we are quite sure that she is not, Christina Aguilera could very well be speaking from Ripple’s point of view in her song Fighter. The altcoin has been battling its way upwards and has nearly managed to reach the upper yellow zone between $0.5691 and $0.6329. Now, it should rebuild and then continue to climb into this area, where it should then finish wave (3) in yellow. After a countermovement into the lower yellow zone between $0.5250 and $0.4756 to complete wave (4) in yellow, Ripple should resume the overarching ascent.
KRAKEN:XRPUSD
by MarketIntel
1
S&P500: S&P-inkS&P500 seems to be tickled pink – metaphorically as well as literally. The index has taken to our expectations and has a lot of pink to face. First, the index should fall below the support at 3639 points and into the pink zone between 3598 and 3508 points to finish wave III in pink. Then, it should return above this mark once more to complete wave IV in pink in the pink zone between 3712 and 3885 points. Afterwards, S&P500 should finally move downwards again, heading for the zone between 3362 and 3271 points in – guess what? – pink!
CME_MINI:ES1!
by MarketIntel
6
Newmont: Humpty Dumpty 🥚🧱Humpty Dumpty sat on a wall, Humpty Dumpty had a great fall. All the king’s horses and all the king’s men Couldn’t put Humpty together again . Well, Newmont shouldn’t have such a great fall that it can’t be put together again. Tough, just like the egg headed character from the British nursery rhyme, it is sitting on the big yellow wall between $42.50 and $23.41, in which it should drop to finish wave (2) in yellow. Afterwards, Newmont should turn upwards, heading for the resistance at $86.37.
NYSE:NEM
by MarketIntel
GLD: Warm-up 👟GLD is warming up in the lower magenta-colored zone between $152.85 and $159.20, where it still has some room left to finish wave iii in magenta. Afterwards, it should jump up into the upper magenta-colored zone between $163.39 and $171.23 to complete wave iv in magenta, before sliding into the yellow zone between $150.72 and $140.40, where the overarching downwards movement should end. There is a 40% chance, though, that GLD could decide to rise earlier already and thus could directly climb above the resistance at $171.23.
AMEX:GLD
by MarketIntel
Polygon: Jump, Jump 🎤We commence to make you – jump, jump, The Mac Dad’ll make you – jump, jump, The Daddy Mac’ll make you – jump, jump, Kris Kross will make you – jump, jump... As fitting as it is, we’re not really talking about the song by Kris Kross, which was released in February 1992 as the first single of their first studio album, but much rather commenting on Polygon’s next movement. Indeed, the altcoin should jump from the orange zone between $000 and $000 into the blue zone between $0.686 and $0.400 to finish wave (ii) in blue. Then, it should turn upwards, heading for the resistance at $1.05 and eventually crossing this mark. However, there is a 38% chance that Polygon could directly jump above the resistance at $1.05 instead.
M
by MarketIntel
1
Agnico Eagle Mines: Knock on Wood…🪵… or rather: Knock on the resistance at $45.42. Thrice, Agnico has rapped on this mark, without surmounting it, however. Now, the bears are back in charge and should continue to drag the price below the support at $31.03. There, Agnico should enter the yellow zone between $19.10 and $10.08 to finish wave (2) in yellow. There is a 35% chance, though, that the bulls could intervene and drag the price above the resistance at $74.50, thus enforcing further ascent above $89.16 as well.
NYSE:AEM
by MarketIntel
1
Cosmos: Well begun is half done!Cosmos seems to have taken this motto to heart and is appearing at its best. The altcoin has already managed quite some altitude difference on its way upwards to the resistance at $21.54, and it should keep going. Once above this mark, Cosmos should be well-positioned for further ascent. A 40% chance remains, though, that the altcoin could lose its steam and drop below the support at $5.54. In that case, Cosmos should make a detour through the turquoise zone between $5.27 and $0 first before starting to rise anew.
BINANCE:ATOMUSD
by MarketIntel
GDXJ: Shilly-shally…GDXJ is still hesitant to finally complete wave ii in magenta and is turning downwards again. As it can, of course, use the whole magenta colored zone between $37.26 and $24.77 to finish the overarching downwards movement, we give the ETF some more time to get its work done. However, as soon as wave ii in magenta is through, GDXJ should veer to the north, crossing the resistance at $36.58 and heading for the next at $51.92 from there. A 40% chance remains, though, that GDXJ could break through the magenta colored zone and drop below the support at $19.52, thus triggering further descent.
AMEX:GDXJ
by MarketIntel
Silver: Keep the Pot Boiling 🫕Quite peppily, silver has vaulted upwards, only to stop short in front of its next destination. Now, it should keep the pot boiling and take up speed anew to make it into the upper green zone between $20.12 and $20.70, where it should finish wave 3 in green. After a short counter movement into the lower green zone between $19.56 and $18.93, silver should continue to climb northwards. There is a 40% chance, though, that silver might need a break and could drop below the support at $17.40. In that case, it should take a detour through the magenta colored zone between $17.23 and $14.14 first before rising effectively.
COMEX:SI1!
by MarketIntel
NatGas: Chin the Bar! 💪NatGas is showing its sporty side and is chinning the bar at the resistance at $8.403. Soon, it should be warmed up enough to vault into the turquoise zone between $8.544 and $9.307, where it should then finish wave (iv) in turquoise. Afterwards, NatGas should jump below the support at $7.532 to complete wave (v) in turquoise as well as wave (2) in white before moving southwards again. Alternatively, there is a 28% chance that NatGas could do a somersault directly above the resistance at $10.028.
NYMEX:NG1!
by MarketIntel
Quant: TrampolineWhoever thinks trampolining was just for children has clearly never tried it properly! It’s not only an Olympic discipline but also a tough workout for back, bottom and legs! Quant is just giving it a shot by pushing itself off the support at $85.93, aiming for the upper blue zone between $236.77 and $294.39, where it should finish wave (iii) in blue. There is a 40% chance, though, that Quant must take a detour through the lower blue zone between $86.77 and $50.69 first before rising effectively.
BINANCE:QNTUSD
by MarketIntel
Dow Jones: Jello 🍮What’s your favorite kind of jello? Cherry? Lemon? Raspberry? Dow Jones seems to prefer woodruff, as the index has been munching through the green jello between 30576 and 31689 points quite efficiently. Now that it has finished wave 2 in green, Dow Jones is already on its way to the next green jello between 37669 and 39249 points, where it should complete wave 3 in green. To take a bite there, it has to climb above the resistance at 34246 points first, though. Also, there is still a 42% chance that Dow Jones could wobble downwards below the support at 30109 points and thus below the next one at 29639 points as well.
CBOT_MINI:YM1!
by MarketIntel
Nasdaq: Banana LeafDid you know just how multifunctional banana leaves are? They can be used for cooking and packaging and to serve dishes, and can also be employed as roof or fence. Nasdaq is currently wrapped in a big green banana leaf between 11734 and 12343 points to finish wave 2 in green. Although this could have already been handled, we still give the index some time as long as it is making use of the green foliage. After wave 2 in green has finally been completed, though, Nasdaq should move upwards, climb above the resistance at 13740 points and head for the upper green zone between 15580 and 16444 points. However, a 45% chance remains that the index could drop below the support at 11479 points, thus triggering furthers downwards movement below the next mark at 11068 points.
CME_MINI:NQ1!
by MarketIntel
1
First Majestic: Refinishing…Like an artist with their painting, a craftsperson with their handiwork or a cook with their most exquisite dish, First Majestic seems not yet ready to let go of its work in the turquoise zone between $12.36 and $6.89 and apparently wants to add a finishing touch. Thus, it has arched back downwards and could aim for completing wave 2 in turquoise a bit deeper still in the turquoise zone. As soon as the current downwards movement is concluded, though, First Majestic should turn upwards and head for the resistance at $19.41. However, there is a remarkable 45% chance that First Majestic could break through the bottom of the turquoise zone and drop below the support at $5.30, which would then trigger further downwards movement.
TSX:AG
by MarketIntel
Ethereum: Go for it! 💪Ethereum is still acting coyly regarding the lower blue zone between $1456 and 1013. So far, the cryptocurrency has only dipped into it shallowly and drawn back, as if its surface was too cold to the touch. We expect Ethereum to overcome its reluctance, though, and to dive into the lower blue zone properly to finish wave (ii) in blue. Afterwards, it should move upwards, crossing the resistance at $2029 and heading for the upper blue zone between $2982 and $3420. However, there is a 42% chance that Ethereum could rush through the lower blue zone and drop below the support at $883, thus triggering further descent.
BINANCE:ETHUSD
by MarketIntel
WTI: Screeeeeech!Can you hear WTI’s brakes screeching from the chart? Well, we definitely can! Quite vehemently, WTI has hit the brakes just short of the bottom of the blue zone between $91.70 and $87.08 – and rightly so! There isn’t all that much room left to finish wave b in blue! In fact, WTI should complete it no later than the support at $85.73. Then, it should turn around and climb upwards, gradually crossing the resistances at $101.88 and at $105.24 to enter the turquoise zone between $107.12 and $119.94. There, it should finish wave b in turquoise, before moving downwards again. However, there is a 32% chance that WTI could drop below the support at $85.73, which would then trigger further descent.
NYMEX:CL1!
by MarketIntel
DAX: HiccupsLooks like DAX has the hiccups, the way it is hopping about nervously. We don’t know what has affected its stomach – maybe it is the fact that the index is still indecisive about wave (2) in white. Apparently, it has not yet determined whether it has already completed wave (2) in white or wants to finish it a bit lower still, before resuming the overarching ascent. However, there is only room until the support at 12425 points, as below this mark, our secondary scenario with a probability of 40% would come into play. In that case, DAX would have to take a detour through the green zone between 12140 and 11150 points first, before rising again.
EUREX:FDAX1!
by MarketIntel
Barrick: To the Beach ⛱The bears have grabbed Barrick and are dragging it along southwards to the warm and sandy beach strip between $11.97 and $6.32, which is seated picturesquely below the support at $12.65. Once there, though, there’s not too much time to relax but also work to be done: Barrick should finish the long-term corrective movement in the form of wave (2) in yellow. Afterwards, the bulls should take over so enthusiastically that the beach sand is swirled up and push Barrick northwards. However, there is a 35% chance that the bulls could intervene earlier already and shove Barrick above the resistance at $26.07, thus eliciting further ascent above the next mark at $31.22.
NYSE:GOLD
by MarketIntel
Gold: Dolphin 🐬Like a playful dolphin, gold has jumped above the resistance at $1770, only to dive right back into the blue zone between $1751 and $1709. Now it has to decide whether it wants to do some more tricks in the water or has already completed wave (ii) in blue. As soon as it has finished the counter movement, though, gold should climb out of the blue zone and above the resistance at $1770, thus confirming the upwards movement. However, there is a 38% chance that gold could leave the blue zone on the lower side and drop below the support at $1709. In that case, it should continue the descent below the next mark at $1678 and into the green zone between $1661 and $1585 first, before rising again.
COMEX:GC1!
by MarketIntel
1