Possible forthcoming trend scenario!
The index may top for medium term and possible trend change.
Apple Inc. Weekly Chart 19th July, 2020 Possible trend change!
If the 5th Elliott wave represents the historical all time high of the Dow Jones bull market for more than 100 years, then it is possible that the stock market entered a historical bear market. The only confirmation for this scenario is the Dow should decisively break the lower trend line of the channel and sustain trading below 19500. Currently we may see some...
To hell with Corona, Super-cycle uptrend is intact as long as price kept trading inside the channel. However multi weeks sustain trading below the 20,000 price tag, then we can say the historical top has been already seen and a new major bearish trend has established.
Nice picture!
As shown in the chart
USD/TRY daily chart.
As shown in the chart, a possible wave count for M/T to L/T scenarios may be in the pipeline!
WTI Crude Oil Weekly Chart 16th January, 2020 Chart shows eventual downtrend target around $20/bbl or even lower. Only sustain trading above $72/bbl may negate.
As shown in the weekly chart, please pick up your choice: Sc1, Sc2, or sc3? However, if the USD needs more corrective period it eventually strengthened against major currency.
Gold Monthly chart and a possible wave count.
As shown in chart.
Sustain trading above $1550/oz may pave the way for much higher Gold price, otherwise, if prices keep trading below the channel's upper trend line, then Gold may resume long term down trend.
Note: It is obvious crude oil may explode north if war breaks out or any other reasons that cause a big demand for the commodity. Breaking and sustain trading above $70/bbl may damage the downtrend forecast.