This is for entertainment purpose only.
If we consider Elliott Waves count on a Point and Figure Chart, one may see a possible wave count.
The count is imaginary which may reflect the current and future sentiment on the Turkish Lira Trend.
The Short to M/T"s crucial level is 8.5,
sustain trading above this level we may see
9 or higher.
Failure to comfortably penetrate up and
sustain trading above 8.5 leads to 6.5 area
during the coming months.
Tadawul All Share Weekly Index - SAUDI ARABIA
11th April, 2021
As shown the Index is in multi year
correction from historical all time
high around 20000 mark.
Possible wave count suggests
one more leg down to as low as
6000 area may seen. The forthcoming
down move may coincide with
lower oil price and lower US,
Europe and other world...
USOIL WTI Crude Oil Daily Chart
31st March, 2021
. As long as crude holds and trades
. above $60/bbl we may see
. eventual target area of $75/bbl.
. However, sustain trading below $55/bbl we
may witness much lower oil price.
The rising wedge on the daily chart shows a possible top
for the S&P 500 Index. However, we may see a false upside breaking of the upper trend line. However sustain trading above 3700 may negate the downtrend.
Gold on the way to finish last leg up
to perhaps at the current level or more
to as high as $2030/Oz.
Then a downtrend may resume for much
lower level perhaps to as low as $1400
in the coming months or so.