RSI divergence supports the idea of completion of the trend started in May. 5th wave usually diverges with RSI. The price will be correcting to towards the other side of the Elliott wave channel with potential target near end of wave 4, around $1400.
Oil is in 3rd of 3rd wave up so will be rising very quick, the first target for WTI is ~$63. Stock market most likely will get (sudden or not) good news very soon. So I am expecting some relief and positivism during Sep-Oct.
After then the previous year correction may repeat.
Sorry. But I hold the dxy bearish idea also. Your speculation of the wave 5s correction could also be a running flat. With wave B shooting higher than wave 5 until C comes back with a Higher low.
, plususd/jpy has formed a bearish Cypher. Idk how you 2 didn't see it. Its perfect, I'm expecting eur/usd to go long. We at 1.10level. Strong psych. Formed double bottom. & usd/dkk to short. Correlates. They are all falling into place. Seems legit.
Kupitman
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@Fdz23, We will see very soon - probably even today. My personal opinion that SP500 and Oil will go up, Gold and Silver down for the next 2-3 weeks. SP500 and Oil will complete 5th waves, while Gold and Silver will shake off weak longs prior to the next big extend upward.
, plususd/jpy has formed a bearish Cypher. Idk how you 2 didn't see it. Its perfect, I'm expecting eur/usd to go long. We at 1.10level. Strong psych. Formed double bottom. & usd/dkk to short. Correlates. They are all falling into place. Seems legit.