Thursday, 10 January 2019

WTI OIL to Top Soon?


Hi Traders,

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ANALYSIS



The WTI OIL (now at 51.63) is very close to the theoretical top at 52-54.13 where it would complete the expected Elliott Wave pattern. If this is correct, the Oil might reverse its course very very soon.


ELLIOTT WAVES

The monthly chart reveals that the WTI OIL unfolded 4 waves down (in magenta) and started wave five downward after the top at 77. The first part of wave five took the Oil down to 42.35. 

The weekly, daily and 4-hours charts reveal that the first part of wave five was made of 4 waves (out of five), being the fourth one almost complete.

Finally, the 1-hour chart shows that we need only a very minor wave up to complete the whole pattern of minor wave four to 52-54.13. This top should be followed by wave five down to 42 or lower.




Monthly chart, click to enlarge





Weekly chart, click to enlarge





Daily chart, click to enlarge





4-hours chart, click to enlarge





1-hour chart, click to enlarge





Wednesday, 9 January 2019

The EURO to top soon?

Hi Traders,

The Euro (now at 1.146) might not make it through the 1.165 resistance. Hence, it could reverse course soon to target the area around 1.1040.


ELLIOTT WAVES


The monthly and weekly charts reveal some information:


1) The Euro is performing an a-b-c retracement wave from the top at 1.6037.


2) Wave c is sub-divided in 5 waves down. Wave four seems is
 fully deployed and wave five downward is already half away to 1.1040.

However, wave four can unfold with different shapes. In particular, it could evolve into a much large pattern which includes a rally to 1.27-1.30 before resuming the downtrend. We'll see.

The daily and 4-hours charts show that wave 5 (from the top at 4 in magenta) is currently unfolding with 5 minor waves, 3 fully deployed and the 4th one almost complete. If this is the case, minor wave five could be heading to 1.104 soon.




Monthly chart, click to enlarge








Weekly chart, click to enlarge








Daily chart, click to enlarge





4-hours chart, click to enlarge






Thursday, 3 January 2019

Gold to top soon?

Hi Traders,

Happy New Year! This is the first newsletter of the 2019.

For those who want to get to the professional level, please check my mentor program.


ANALYSIS


Although Gold is trying to get to the area 1300-1308 (see the target lines in the daily chart), it also shows the signs of a commodity running out of steam and it might turn South before reaching that target.

Note the exhaustion gap in the 1-hour chart.


ELLIOTT WAVES


The monthly and weekly charts display a very large accumulation pattern (a-b-c). From the top at C, Gold has now staged 4 small waves downward (out of 5). Wave 5 might take the commodity to the area 1155-1131 or even 1100.

The daily chart and the weekly chart clearly show that the whole set of 4 waves down - from the top at C - is religiously in place. If Gold tops soon, it will mark the completion of wave 4, starting a new downtrend to be labelled wave 5.




Monthly chart. Click to enlarge








Weekly chart. Click to enlarge









Daily chart. Click to enlarge









4-hour chart. Click to enlarge









1-hour chart. Click to enlarge