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Gold is testing recent swing highs around $1790 as the metal trades around $1785/86 levels. Believe it or not, all recent highs in Gold have accompanied by bearish divergences on the RSI. Also note Silver is lagging behind the yellow metal, again a potential bearish divergence. We need not speculate on a potential top in place at the moment and it is better to...

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Bitcoin had dropped below 9000 handle before pulling back yesterday. The crypto is retracing its recent drop from 9800 through 8830 levels. The fibonacci 0.618 retracement of the above drop is seen towards 9400 zone. A bearish reaction can be expected if Bitcoin manages to reach there. Looking at the wave counts since 3850, the crypto might have completed Wave 1...

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US Dollar Index has dropped from 103.00 levels through 95.70 in 3 haves until now, hence corrective. The earlier rally towards 103.00 being an impulse, it is a 5-3 pattern until now. Hence probability should remain high for another 5 wave rally that could extend beyond 103.00 going forward. For the above structure to remain intact, US Dollar Index should stay...

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EURUSD is testing resistance around 1.1320.30 at the moment. A push towards 1.1350 would encourage further rally but resistance should be strong around 1.1370/80. The June 10, high around 1.1420 remains critical for the next move and EURUSD should stay below to keep the bearish structure intact. A break below 1.1167 would be required to accelerate further towards...

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SPX500 larger degree wave counts are suggesting that the drop from 3400 towards 2200 was clearly sub divided into 5 waves, Wave (1) on the chart. The subsequent rally towards 3230 was in 3 waves, A-B-C, Wave (2) on the chart. If the above counts hold well, SPX500 has resumed a Wave (3) lower since 3230 highs and ideally it should stay below that. The fibonacci...

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Gold has dropped from $1789/90 highs recently and it seems to be preparing for another round of selloff after testing $1777/78 highs. The yellow metal continues to display a bearish story on the larger degree. After having carved a meaningful high around $1920 in 2011, Gold has been in a corrective A-B-C drop at a larger degree. The drop between $1920 and $1046...

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US Dollar Index might have carved a higher low yesterday around 96.80, before pulling back higher. The index has dropped from 103.00 highs in 3 waves until now. A break above 98.40 would confirm that the drop was indeed corrective A-B-C and not 1-2-3, as labelled right now. We shall re-label once the price action confirms. If the above count holds, US Dollar Index...

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EURUSD might have completed a corrective rally that had begun from 1.0636 in March 2020. We have labelled it as 1, 2 (triangle) and 3 respectively on the displayed chart and would re-label it as Waves A, B and C. Please note Wave C or 3 might have already terminated at 1.1400 handle and hence we would favor a bearish stance until prices stay below that. The wave...

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Dow Jones might have already carved a meaningful lower high around 27600/700 handle on June 09, 2020. Ideally prices should remain below that handle and any counter trend rally to terminate around 27000 mark. At this moment, the indice is seen to be trading around 26000 mark and it is just a matter of time before it is on its way lower again. The wave cunts are...

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Bitcoin corrective wave is unfolding since 10500 levels and potential remains for a termination towards 6300/6400 levels. The medium wave structure remains clear: The rally between 3850 and 10500 seems to be an impulse, Wave 1 here. A potential Wave 2 (flat) could be on its way towards 6300 levels. Thereafter, we can expect a Wave 3 rally towards 13800 and higher...

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GBPUSD has rallied through 1.2530 levels today as potential corrective Wave B, within the A-B-C structure. Minimum expectations were towards the fibonacci 0.50 retracement around 1.2533, which has been met. Ideally, GBPUSD should reverse lower from here, until below 1.2800 resistance. Please note GBPUSD has been in a corrective phase since touching hitting the...

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EURUSD has most likely carved a lower degree wave ii (not labelled here), as a combination w-x-y, above 1.1300 handle today. The currency is seen to be trading around 1.1282 levels around this time of publishing and could soon resume lower towards 1.0900. Immediate resistance remains intact around 1.1350 handle and the above wave structure remains intact until...

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SPX500 has carved yet another lower high at 3233 around 08 June 2020. The earlier wave structure has been clear as follows. The drop between 3400 and 2200 has been an impulse, Wave (1) on the chart. The subsequent rally has been corrective A-B-C and has terminated around 3233, Wave (2) on the chart. If the counts hold well, SPX500 is on its way towards 2200 and...

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Gold has hit fresh highs today at $1790 and is seen to be pulling back as we publish the article. On the short term charts, $1747/50 remains immediate support that need to be taken out to confirm the first step of a bearish reversal ahead. We would be watching the yellow metal very closely and update here. Structurally nothing changes at a higher degree except the...

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US Dollar Index is seen to be trading close to 97.50 as we publish this short update and might have carved a higher low yet again around 97.22 today. The index could be preparing for a sustained rally and a break above 98.50 would confirm, since the trend line resistance would be broken. Also note that the drop from 103.00 until 95.72 has been in 3 waves, hence...

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EURUSD is breaking below the immediate trend line and trading close to 1.1205 at the moment. The wave structure clears as Waves 1, 2 and 3 complete from 1.0636 lows for now. It could be labelled as a potential a-b-c as well since EURUSD has rallied in 3 waves until now. The currency has to break above 1.1422 to turn bullish again as we change our stance from...

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Dow Jones remains bearish against 29600 over the long term. But don't e surprised to see a sharp rally towards 26800/27000 levels from here, before the indice finally reverses. The rally is not mandatory but possibility remains and it could surprise many traders who remain aggressively short. Please avoid getting into a bull trap since Dow Jones remains a classic...

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Brent Crude is looking to drop further towards $33.50 and $26.00 as the commodity carves a meaningful top around $44.00 handle. The earlier rally from $15.75 through $44.00 seems to have completed 3 waves at least. We can expect a minimum drop towards $33.50, which is fibonacci 0.382 retracement of the entire rally. Having said that, please do note that Brent...