zhipengcfel

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Gold is in consolidation for many days. From Elliott wave analysis it might have a very quick wave C correction and then starts the next wave up. Let's see how it will play! Good luck for everyone!

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USOIL started rebounding from last Wednesday. From elliott wave analysis the rebounding has a five wave up structure which means the rebounding does not finish yet. It might continue rebounding to 42.5 -> 43.1 -> 44.5. We need to pay attention to the resistance line from the previous broken decline channel. For daily chart we need to pay attention to the...

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Oil has been in bottom for more than one and half year. The fundamental of oil market is changing as well. We had a huge wave up from 26.05 to 51.67 from February to June which tells us that oil is in the bottom. Last one and half month's correction stopped at 39.2 and huge bull yesterday both shows that oil is preparing for another huge correction up. The target...

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Let the price action decide which setup I will be in. Good luck!

zhipengcfel Updated 

USOIL met a big resistance at upper line of the decline channel and was rejected back yesterday. It forms a nice short setup if it breaks down the sharp rising channel. Good luck for everyone! No confirmation, no trading! Notes: if it breaks out of the decline channel, this setup will be invalid!

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Gold had a nice rebounding wave B in last couple of days which we traded (see chart below). Then it got a sharp decline last Friday. From elliott wave anslysis the wave C down is ongoing now. It might bring gold to around 1280 which is the bottom of a large rising channel and PRZ of a Gartley pattern. Good luck for everyone!

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Siver finished a five waves up structure. Afterwards it broke down the rising support line last Friday. It would have a large correction following. The target can go to around 18 if the double top neckline was broken in the following week. It will be a good short opportunity. Good luck for everyone!

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Long at 40.8 with SL: 40.52 TP: 42.52

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USOIL might rebound from here because it is coming to a potential reverse zone and bottom of the potential rising channel. Pay attention to the resistance at 42.58 and 43.24. If they are broken, it will go up to 44.5 which is a very important resistance level on weekly chart. If oil rejects back from these resistances with high volume and breaks down the...

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SPX500 confirmed a new impulsive wave after it broke out of the consolidation area. It was in a small flat correction for the last eight trading days. If it breaks out of the flat correction area, it will go up furtherer. I will go long if it breaks out this area with SL at 2160.6 TP1: 2214.7 TP2: 2260.2 TP3: 2325.5 Good luck for everyone!

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Oil started rebounding when it came to the potential reverse zone at Friday. From elliott wave analysis, the correction wave completed likely. Break out of the sharp decline channel will confirm the rebound. Trading suggestion: Go long when it breaks out of the decline channel with SL at 40.5 TP1: 43.19 TP2: 44.51 TP3: 45.90 No confirmation, no...

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Oil rallied from 26.05 to 51.64 for 119 days. Then it topped at June 8th and started the correction until now. Where is the target for this correction? A potential cypher and a bat pattern are forming. Target for this two harmonic pattern are extremely the same which forms a strong potential reversal zone at 40.2~40.8. Pay attention to the decline channel...

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Gold is in a large correction of wave C currently after it broke out of the expanding triangle. The correction of last week pulled the price back to the upper line of the expanding triangle. It seems that it got supported from the triangle line and might have finished the correction. Gold might recover the up this week and pay attention to the resistance...

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Silver is in a flat correction and coming to bottom of the rising channel now. Pay attention whether it will break up the resistance line or break down the rising channel. Good luck for everyone!

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Gold retraced back to the bottom of the rising channel and rebounded a little bit. Pay attention to whether it will break the rising channel or continue going up. Good luck for everyone!

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GBPNZD finished a five wave up and started the correction at July 20th. Now it is coming to the bottom of the rising channel. Pay attention to whether it will get supported or break down the rising channel. It will be a good opportunity to trade after it is confirmed. Good luck for everyone!

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Correction structure of usoil is quite clear now. The wave C-4 is a triangle structure and was broken in Friday. The price is in wave C-5 currently. The target of C-5 is at around 42.2 based on the triangle broken and 41.4 if wave C-5 equals C-1. The correction might finish next week. Trading suggestion: The price rebounded from bottom of the channel. Watch for...

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USOIL has broken out of the bearish trend line. From daily chart it seems that oil got supported from the channel line and red support line. From time cycle oil completed the correction cycle time which is at around July 15th. We can open a small long position with TP1: 46.9 TP2: 47.9 Good luck for everyone! Notes: If oil can break out of the beaish...