spranav

spranav

If the price of crude oil respects weekly pivot points, there is a high probability that it will form a head and shoulder pattern in next few days. If confirmed the target will be around $80 or below

spranav

In past couple of weeks and months there were so many divergences in daily chart of SPX500, one of them is in progress and at the resistance. If the volumes spikes that will be the confirmation of downward movement of SPX500 for couple of days.

spranav Updated 

Copper is in downtrend from the high of March-07-2022, as per elliott wave analysis the copper seems to be in (corrective) 4th wave. If my analysis and wave counts holds good, then the 4th wave should end below the low of wave 1 which is "4.0346". The 4th wave should clearly show the ABC corrective pattern. The trade idea is to SHORT COPPER in the 5th wave, there...

spranav Updated 

As per Elliott wave analysis Crude Oil WTI Futures is in 4th wave, expect it to reverse and go down to $87 area marked in red circle.

spranav

USDINR is in its 5th wave as per my Elliott wave analysis. Wave#3 was extended, so the wave 1 should be = wave 5, with this assumptions I think the USDINR will go upto 81.80 are before deciding further direction.

spranav

If copper price action respects my Elliott wave count in daily timeframe, expect the 5th wave to start sometime sooner. Please refer to my previous analysis of copper in 60 min time frame. Looking at Elliott wave counts, wave#3 was greater than wave#1, so I am expecting wave#5 to be at least equal to wave#1 (see the vertical yellow bars), based on this assumption...

spranav Updated 

Copper is an indicator of world economy, during recession period it goes down along with the stock market. Copper peaked in last few days while the stock market around the world was falling or extremely volatile. However in 2 Days time frame it does clearly shows a pin bar which was a Lower High in series of Lower Lows and Lower Highs. I think copper may continue...

spranav Updated 

Copper weekly chart show it is about to break upper trend line. There are many factors affecting copper price but technically it is going up towards $5.x

spranav Updated 

Russell 2000 is showing a text book example of Up Trend followed by Sideways move and then down trend. It has broken the range and going down. But S&P500 is still sideways, not yet broken the sideway support. So two indices are not in sync. Let us wait to see if S&P breaks supports and follows the Russell 2000 or continues to go sideways?

spranav Updated 

Copper Futures HGU2021 H1 chart shows series of LOWER HIGHS + LOWER LOWS from July 26 2021. Contrarary to fundamentals (strike in copper mine would create shortage in supply, etc) the technical analysis shows there is a room for some more down side towards 4.285. The downtrend would end if the price trades above previous HIGHER HIGH.

spranav Updated 

If copper futures price breaks below the lower trend line there is a possibility it will touch 3.8 level in few weeks.

spranav Updated 

This is second Bearish Flag Pattern in Copper Futures chart. Enter a short position now or when it touches the resistance area.

spranav Updated 

Copper has broken the lower trend line second time, it made lower high on Aug 30 2021. I think it is heading towards 3.7 - 3.8 area to make another lower low.

spranav Updated 

AUD/JPY 4H chart shows a possible H&S pattern, if the price continues to go down this is a good short trade. It might make another Lower Low.

spranav

Downtrend continues in Copper, there is no sign of Higher High or Higher Low yet. It seems the copper futures chart is behaving very well making enw LLs and LHs and respects previous resistance.

spranav

Short Copper Futures, it is in cotinuous down trend.

spranav

Short Copper Futures (HGU1 = Copper Futures for Sept 2021). It has made series of Lower Lows and Lower Highs, expecting one more Lower Low. This is a simple price action of Copper Futures.

spranav

EURAUD made its first Lower Low in Weekly Time Frame and also a Lower High. Currently it is trading at a well established Resistance Level. Good possibility for reversal.