This is the case where there are two possible corrections. Considering the date of the FOMC meeting, the possibility of expanding correction will be a little higher.
Silver is at a point where both new weekly resistance or support key levels are expected. Red is an expected trend, but blue is a new emerging trend. This week will be a very exciting week.
If it falls, it will keep pushing it up. The reason is that the daily support key level must be completed. Whether this daily support will be wave2 or B will be known by Thursday.
Gold's important inflection point comes. If the Chinese indicators are good tomorrow and CNY is strong or the Japanese JPY further easing quantitatively, the dollar could weaken. However, if there is no message of any further easing of the dollar at the FOMC meeting, there may be a temporary dollar strength.
The stock market is expected to decline once more. The market is looking for a new daily resistance key level (point B) for a decline.
This analysis assumes that gold will rise next week. I expect the direction to diverge at point y. The chart is a mix of bearish and bullish. There doesn't seem to be anything weird wherever gold goes. The market always shows two-way signs, but sometimes we only seem to look in one direction. I think it's a bit early if gold turns to a bear market right now. So I...
Yesterday's rise is judged to be A-B-C, not wave5. So, I expect the next week's high to be at Y, and that will be the new weekly resistance key level. It is expected to decline until at least early September.
It has been narrowed in two directions. It seems that Gold does not go to the ABC form at the Y point, but probably goes to the 5 wave form. This may mean that the market is considering the possibility of bull rather than bear. If gold reaches point Y this week, it could create a bearish environment until next week's FOMC results and put downward pressure.
This analysis is from the perspective of the early stages of entering the bear market. The reason for the bear market 1. A weekly support line (wave4 estimate) was created below the last high. 2. Now, the correction is in the form of w-x-y, which should come down once more below the point that is considered the current support line. 3. If the currently created...
The response of the C expected point is very important. Watch out for the ECB meeting tomorrow.
If the dollar is expanding correction, it is a gold scenario.
If the lower low is the weekly support key level, it should be raised by at least next week. This is the second scenario.
I think that the dollar could be a 4 wave w-x-y correction. If so, 5 wave will occur by the end of September.
I made a final decision today. I hope to meet you at the goal. good luck.
The dollar is expected to rebound significantly after falling once more.
It's time to sell when good news comes out. Especially the NASDAQ...
Correct. There is a possibility to rise up once more. If it falls below the support line, it is expected to decline due to the weekly resistance key level as previously expected.