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Waveanalyses

Nasdaq: Dabbling in the Water 💦Nasdaq is looking for refreshment and thus is dabbling in the blue stream between 12317 and 11600 points in the sandy yellow river bed between 12894 and 10501 points. The index should dive a bit deeper into the water now to finish wave v in magenta just below the mark at 12100 points, but it could also decide to leave the river directly. In both cases, Nasdaq should subsequently rise above the resistance at 13583 points to complete wave i in magenta between this mark and the next one at 16569 points. Afterwards, the index should approach 13583 points again to end wave ii in magenta. However, there is a chance that Nasdaq could emerge from the river on the other side and drop below 11600 points.
CME_MINI:NQ1!
by MarketIntel
USO: StairwalkerUSO has planned a tough workout on the stairwalker. After finishing wave iii in turquoise in the upper turquoise zone between $76.92 and $75.60, it should move upwards to complete wave iv in turquoise. Then, USO should drop into the lower turquoise zone between $73.45 and $72.12 to end waves v in turquoise and 1 in green. Following another countermovement into the green zone between $77.71 and $81.57, where wave 2 in green should end, USO should fall below the support at $67.68 and the one at $62.92. There, it should enter the yellow zone between $60.18 and $43.48 to finish waves 3 in green, c in orange and (2) in yellow.
AMEX:USO
by MarketIntel
Dow Jones: Move Yourself!Move yourself! You always live your life, Never thinking of the future. Prove yourself! You are the move you make, Take your chances, win or loser. See yourself! You are the steps you take, You and you, and that's the only way. Shake, shake yourself! You're every move you make, So the story goes… Dow Jones should listen closely to “Owner of a Lonely Heart” by Yes as the text of the first stanza is indeed in accordance with what we would encourage the index to do. After it has been given the brush-off by the resistance at 34038 points, Dow Jones has retreated deeply into the green zone between 33724 and 32519 points, even touching the white zone between 32389 and 32241 points below it to finish wave (C) in white. Now, the index should brace up and move upwards, striding across the green zone and climbing above the resistance at 34038 points. However, there is a 45% chance that Dow Jones could fail to pick itself up and could drop below the support at 32167 instead.
CBOT_MINI:YM1!
by MarketIntel
1
Ethereum: Greens 🥬Ethereum has resolved to eat more healthy food. Thus, it has added a lot of greens to its diet, as is visible in our chart. First, it should take a bite of the middle green zone between $2169 and $1542 to finish wave 3 in green. Then, it should climb upwards to complete the countermovement in wave 4 in green. Afterwards, Ethereum should resume the descent below the support at $1711 and into the lower green zone between $1590 and $1349, where wave 5 in green should end. However, there is a 35% chance that Ethereum could decide to take a mouthful of the upper green zone between $3249 and $3481 before moving downwards again.
BITFINEX:ETHUSD
by MarketIntel
Silver: JumpyWhile bears aren’t normally known to be jumpy, the bears on the silver market have just shown signs of scariness. They must have been so focused on their way downwards that they didn’t realize how close they had already come to the support at $21.98. Although they have shrunken back from this mark, we expect them to pick up courage again quickly – after all, they have been so strong and composed lately. So, the bears should push silver below $21.98 and towards the orange zone between $20.91 and $19.59, where wave iii in orange should end. Then, a countermovement should lead silver back above $21.98, where it should finish wave iv in orange before resuming the overarching downwards movement.
COMEX:SI1!
by MarketIntel
Terra: Refreshing 💧Especially as temperatures are rising, it is important to drink sufficiently. Terra seems to heed this advice and has entered the blue zone between $83.07 and $62.20 for a second time to refresh itself. Currently, Terra is making a move to leave the bracing blue area already. However, we primarily expect the altcoin to dive a bit deeper again to finish wave (ii) in blue, ideally in the lower half of the blue zone. Afterwards, Terra should be invigorated enough to move upwards.
L
by MarketIntel
1
Gold: On the PlaygroundWhen was the last time that you have been on a playground? Gold seems to have rediscovered its inner child and is making use of the slide in the form of our red arrow leading into the orange sandbox between $1707 and $1657. There, gold should finish wave iii in orange and jump up afterwards to start a countermovement in wave iv in orange. There is a chance, though, that gold could leave the slide early and rise into the upper orange zone between $1921 and $1974 before resuming its descent.
COMEX:GC1!
by MarketIntel
Cardano: Back on TrackAfter trailing along the mark at $0.92258 for so long, Cardano has finally found back to our primary scenario. It has gone below $0.92258 and into the green zone between $0.93552 and $0.27674, where it should finish waves v in magenta, C in turquoise, (C) in yellow and 2 in green. Then, Cardano should turn around and move upwards. However, there remains a 20% chance that the altcoin could start to rise earlier already, crossing the resistance at $1.63781 and heading for the next one at $2.4574.
BITTREX:ADAUSD
by MarketIntel
1
GDX: Out of the BlueThis is GDX’s motto only literally because its descent from the blue zone between $43.86 and $39.30 was far from unexpected and indeed completely in accordance with our primary scenario. After completing wave (b) in blue in the blue zone, GDX has established itself on its way downwards, and we expect it to continue this trend into the magenta zone between $27.49 and $19.52 below the support at $28.83. There, GDX should finish wave (c) in blue and wave ii in magenta before rising above the resistance at $40.13. There is a 30% chance, though, that GDX could break through the bottom of the magenta zone and drop below the support at $16.18.
AMEX:GDX
by MarketIntel
NatGas: GeyserLike a geyser, NatGas is spouting upwards from the white zone between $6.255 and $6.684. We expect it to have enough drive to reach the resistance at $8.065 soon. There, it should gain some more momentum to make it into the orange zone between $8.559 and $9.241, where wave (5) in white as well as wave iii in orange should end. However, there is a 42% chance that NatGas could rebound off the line at $8.065 and subsequently drop below $6.466. In that case, it should fall into the green zone between $5.687 and $4.939 first before rising back above $6.466 and further toward $8.065.
NYMEX:NG1!Long
by MarketIntel
1
Dow Jones: EnsnaredRemember the Devil’s Snare in “Harry Potter”? It is one of the obstacles Harry, Ron and Hermione have to overcome to get to the Philosopher’s Stone. Quite similarly, Dow Jones is ensnared by the green zone between 33790 and 32534 points, which it has entered already for the second time. We expect it to advance a bit deeper still to finish wave (5) in white, wave c in turquoise and wave 2 in green. After it has managed this task, the index should rise out of the green zone and above the mark at 34038 points. There, it should gain enough upwards momentum to cross the resistance at 35413 points as well. To confirm this scenario, though, Dow Jones must not fall through the bottom of the green zone and drop below the support at 32167. However, there is a 40% chance that this alternative scenario could come into play.
CBOT_MINI:YM1!
by MarketIntel
IOTA: Two RoadsTwo roads diverged in a yellow wood, And sorry I could not travel both And be one traveler, long I stood And looked down one as far as I could To where it bent in the undergrowth… The first stanza of Robert Frost’s poem “The Road Not Taken” describes IOTA’s situation quite well. Two roads are spread before the altcoin – which one will it take? There is a 48% chance that IOTA could decide to go downwards and drop below the support at $0.5736. However, we primarily expect it to rise up, crossing the resistance at $1.0550. And if IOTA has made it this far, there is potential for further upwards movement.
BINANCE:IOTAUSD
by MarketIntel
1
Brent: Parking Assistant 🚗Beep beep, beepbeepbeep, beebeepbeepbeepbeeeeeep Brent seems to have afforded a parking assistant, judging by the neat way in which it has entered our white zone between $106.12 and $99.47 to finish wave c in blue and wave (B) in white. We expect it to turn around soon and to head for the next parking lot above $114.74, the green zone between $117.78 and $133.52. After Brent has completed wave B in green and wave (C) in white there, it should turn again and home in on the support at $97.56.
TVC:UKOILLong
by MarketIntel
1
Avalanche: Baby One More Time! 🎤Britney Spears’ voice seems to sound in the background, singing “Hit me, Baby, one more time”, while Avalanche approaches the orange zone between $70.58 and $58.31 one more time. We expect it to dive into the orange zone to finish wave C in green and wave ii in orange. Afterwards, Avalanche should rise upwards more sustainably, crossing the resistance at $98.77 in the process. In addition to Britney’s song, we should keep in mind, though, the 35% chance that Avalanche could drop through the orange zone and fall below the support at $53.16.
BINANCE:AVAXUSD
by MarketIntel
1
Brent: Watch Your Head! 🤕Brent has been climbing and climbing and climbing and has actually maxed out the space until $114.74. There, it has finished wave (A) in white, butting its head at the resistance line, and subsequently turned around to move downwards. We expect Brent to drop into the green zone between $106.12 and $99.47 to recover and to complete wave (B) in white. Then, it should start to rise again, breaking through the resistance at $114.74 this time. After finishing wave (C) in white as well as wave B in green, ideally in the lower third of the green zone between $117.78 and $133.52, Brent should turn again, heading in the direction of $97.56.
TVC:UKOIL
by MarketIntel
1
Agnico Eagle Mines: Stayed Strong 💪Agnico Eagle has stayed strong and has made it into the blue zone between $63.39 and $71.21 despite a momentary setback. If we now turn up our most motivating playlist, it should even climb a bit higher still to finish wave (b) in blue. Afterwards, Agnico Eagle should turn around and head in the direction of the support at $45.42. It should then fall below this mark, as well as below the next one at $31.03. Still, there is a 35% chance that the course could keep climbing, rising above both the resistance at $74.50 and the one at $89.16.
NYSE:AEM
by MarketIntel
Silver: Tenacious B 🐻The rock band “Tenacious D” consisting of Jack Black and Kyle Gass must soon face competition, namely from “Tenacious B”. The bears on the silver market have rightfully earned this name by perseveringly dragging silver further down despite recurrent countermovement. The expression “to bear up” doesn’t exist for nothing, after all! We expect the bears to keep going and to lead silver below the support at $21.98 and into the lower orange zone between $21.39 and $20.27, where wave iii in orange should end. The following countermovement in wave iv in orange into the upper orange zone between $22.90 and $23.52 should serve as a booster for the greater downwards movement, which should then continue below $21.98.
COMEX:SI1!Short
by MarketIntel