brown_maverick

brown_maverick

There has been much talk lately on the Chinese yuan (RMB) dethroning the US dollar as the world's main reserve currency within the next decade or so. I have been analysing the chart of USD/RMB from an Elliot wave's perspective to assess the possibility of that occurring. In my analysis, the pair USD/RMB has completed the running flat pattern (W) and is...

brown_maverick

I inadvertently stumbled upon the chart of IBM last night and I was intrigued with the pattern that has developed over the past thirty plus years since 1999 (the dot.com crisis). Economists and market analysts have been talking about the US economy undergoing a recession of late because of the interest rate hike and the sticky inflation, with the US stock...

brown_maverick

As we all know that cryptocurrency has been going a tough crypto winter for the whole of 2022. The debacle of FTX created a domino effect among other crypto platforms, and have caused catastrophic losses in both institutional and retail investors. So what lies ahead for the future of bitcoin ? In contrast to the stock market, commodities ( I will categorize...

brown_maverick

In my previous analysis, I mentioned that we are now in the 'B' wave of a impending triangle. After following the trend of gold for the past few weeks, I reckon that the X wave, a triple combination of flat (W), zig-zag (Y) and triangle (Z) is completed as depicted in the chart. A breakdown of the b-d support line of the triangle, at 1928 region, will be a first...

brown_maverick

Since the 2008 global financial crisis, crude oil has been undergoing a double three elliott wave pattern structure. Zigzig (W) - contracting triangle (X) - expanded flat (Y). We are now at the 'C' wave of the expanded flat. The eventual target price should be close to the low at Mar 2020 during the pandemic period before heading north.

brown_maverick

I reckon the move up from Sep 22 was corrective. Made some minor changes to my count in my last post, but the general picture is still the same. I label the move as a triple combination as depicted in the chart. Flat (W) - zigzag (X)- Zig Zag (Y) - triangle (X) - triangle (Z). A triangle may be in the making and I will label this move as A, with B, C, D and E,...

brown_maverick

Here's my analysis of HUI, gold bugs index. . In my analysis, wave (1) , (2), (3) and (4) all have 3 wave structure, with wave (4) more complex and time consuming than wave (2). This phenomenon usually points to a 5th wave extension. Another observation is wave (4) overlaps with wave (1), which leads to the possibility of an expanding ending diagonal. Following...

brown_maverick

Since my last post on Gold a month ago, the price of gold has headed north. I was contemplating if I should cover my shorts and start to accumulate gold and gold miners' stocks. And I spent the last few days, over the Easter weekend, to relook at my charts. I came to my own conclusion that the corrective phase is still not yet over and I believe a zigzag pattern...

brown_maverick

Since my last post on DXY, the index has been heading south. The 'C' wave has since displayed 5 distinct waves, with the 5th wave as an expanding ending diagonal (a-b-c-d-e) as depicted in the chart. Ending diagonals are commonly seen in 5th wave of an impulse wave. And they are also harbingers that the index is about to undergo quick and steep reversal rally. I...

brown_maverick

I still believe the run for DXY is not over yet. I was pondering over the chart of DXY over the weekend . And an alternate count for DXY is labelled over the double running three count I posted on Mar 4. As depicted in the chart, a leading diagonal is formed as (1) follow by an irregular (expanded) flat correction as (2). DXY is now in the formation of 'c'...

brown_maverick

For the past few years since peaking at 2075 in August 2020, gold has been trending in a corrective mode. Despite the war in Ukraine and lately, the hype surrounding the Federal Reserve cutting interest rate by the end of 2023, gold has not been reached new highs. From a Elliott wave perspective, I will hazard a guess that gold is currently in the Y wave of a...

brown_maverick

It may be premature to label this wave count as a running double three Elliott wave, the former three is a flat, the latter three may be a flat or a triangle. The (X) wave does not behave as an impulse wave, hence the reason for labelling it as a (X) wave. If this count is correct, the next wave, wave 3, will be an impulse wave of at least 1.618 of wave 1. We...

brown_maverick

DXY reaches a peak of 114 at the end of Sep 22, completing the "C" wave of the corrective wave (W). In the next couple of years, we will see DXY meandering the corrective wave (X). Zooming in, I reckon DXY has completed the A wave of an expanded flat, and is now on its B wave rally, with a target ranging from 120 to 124.