Daniel_Kostecki

Daniel_Kostecki

The German DAX index has opened with a huge bearish gap. Thus, the market seems to fall below the key support level at 13452 which has been a previous resistance. Currently, the market is testing another potential support at 13022. However, if it is broken we may expect another sell-off with a potential target at a previous gap near 50 percent Fibo...

Daniel_Kostecki

In our recent analysis, we have pointed out that the price is approaching a key resistance area of two Fibonacci expansions. They were broken very easily this week which may show the strength of the current upward movement. So let’s take a look at the next possible targets for the bulls. The first one may be set by an upper limit in a parallel trend channel at...

Daniel_Kostecki

The price of ETH has reached the target which has been set by a potential double bottom pattern. The target has been located at 650 USD. However, it seems that the buyers won’t realize their profits near this level and the price continues to grow. Currently, the nearest potential resistance may be set by the upper limit within the expanding wedge pattern. The...

Daniel_Kostecki

The price of BTC has broken 20000 USD with another upward movement within a longer-term trend. However, currently the market may test the crucial target range set by the two different Fibonacci expansions. We’re talking about 100% and 161,8%. The first one shows us that the current movement may be equal to the trend which has started in December 2018. Second one...

Daniel_Kostecki

The price of silver has been consolidating for a while and has been moving below the key resistance. We’re talking about the line drawn through the tops since August 2020. What is more, the price has created a potential inverted head and shoulders pattern with potential support at 23,67 USD. At that level the left and right shoulder may be located. If the...

Daniel_Kostecki

The price of LTC has been creating a potential symmetrical triangle pattern labeled as “abcde”. Its upper and lower limits are the first possible resistance and support levels and they could be important for the price. What is more, the potential resistance is also set by the expanding wedge pattern that has been forming for a long time. If it is broken with an...

Daniel_Kostecki

German index DAX has broken first potential support at 13167. It has been set by the equality of the corrective movements. Currently the market is at the next potential support set by previous local lows near 13000 pts. If it is broken we may expect a larger correction with key support set by the bullish gap and by the 38,2 Fibo retracement. It could also be a...

Daniel_Kostecki

The price of silver bounced back from the key support level at 22,52 USD. This level has stopped the correction on the silver market three times in a row. However, currently the market has reached and tested line drawn through the tops from the high set in August. The whole pattern seems to look like a big triangle. What is more, within the mentioned pattern an...

Daniel_Kostecki

The price of bitcoin has retracted from the levels near USD 20000 for a second time. Previously it led to an almost 17% correction to USD 16400. After that, the market has set the new top which could be labeled as wave “b”. Thus, the current downward movement may be labeled as wave “c” within running or irregular correction. The price of BTC may also try to fill...

Daniel_Kostecki

The price of gold has ended the potential correction labeled as ABC. The whole corrective movement has been described in our previous analysis where we had expected the simple correction. Wave C may be finished at 1771 USD where the lower limit of the downward channel has been located. From the technical point of view current rebound may be the first phase of the...

Daniel_Kostecki

The DAX index has tested first potential support at 13170 where the equality to previous correction is set. We are talking about one to one correction or running correction. It seems that only a move below this level may open the way to the next potential support set by 23,6 Fibo retracement or the bullish gap near 38,2 Fibo retracement. However, the German index...

Daniel_Kostecki

Since March the New Zealand Dollar has strengthened to the US Dollar by about 30 percent. During this strong rally the price has created a potential Elliott wave pattern. It consists of five waves which are usually typical for the impulse structure. What is more, the current potential fifth wave has reached possible targets. They are set by the upper limit within...

Daniel_Kostecki

The EUR/USD currency pair has reached the first potential target set for the fifth wave. About this scenario, we have written in our previous analysis waiting for a 1,2000 level breakout. Since then the first potential target has been set by 100 percent Fibo expansion of wave 1. 1,2128 has been tested. However, currently the market seems to be still rising so the...

Daniel_Kostecki

The German DAX index has reached the highest level since the beginning of September. The area of 13452 pts. could be a strong resistance that has stopped the bull run in the past. What is more, in recent days the market has created a shooting star candlestick pattern with relatively high volume. Now the volume seems to be falling when the market tries to stay...

Daniel_Kostecki

In our previous analysis, we have mentioned a correction in the gold market. The whole structure has been labeled as ABC where wave C has been forming recently. The wave C may have finished in the area of 1750-1788 USD. In this place, the lower limit within a downward channel is also located. Today the market has rebounded strongly so if the mentioned support is...

Daniel_Kostecki

In our previous comments, we have mentioned that the EUR/USD currency pair has been creating a pattern known from the Elliott Wave Theory. The exchange rate recently may have finished the corrective wave four at 1,1612 support. After the mentioned correction the price has been rising as the potential wave five. The potential targets are set by the Fibonacci...

Daniel_Kostecki

The price of Bitcoin has sharply dropped from the almost all-time high. These types of moves may be considered as characteristic for the cryptocurrency market where huge volatility may appear from time to time. However, the nearest support levels may be in play soon. We’re talking about an upward limit in an expanding wedge which has been broken earlier and...

Daniel_Kostecki

The price of ETH after a strong rally has retraced back to the first important support located at 489 USD. At this level, we may spot a previous top which was a local resistance and currently it may be the key support. What is more, near this level the upward limit of the expanding wedge is located. Previously the price broke it so currently it may be also an...