About meCommerce Postgraduate 15 years ago and now Transport Professional. Recently got into Technical Analysis reading Frost & Prechter, Gorman & Kennedy and others. Now a big believer in Elliot Wave.
Lower trend-line break. Strong chance of a price bounce to around the lower trend-line before commencing a steep decline to potentially make a 1:1 extension of wave A (primary) which would put the price down to $505 over the next 2 to 4 years.
As this is a long timeline and a significant drop, I would tend to lock in profits along the way - as a full 1:1...
Is it at all possible that the DJI may have topped?
I haven't done an in-depth EW analysis, and lets face it, I am no expert. But:
1. A trade war (between the USA and China, Canada, the EU, and Mexico etc) seems more likely than unlikely (whatever your beliefs may be about the benefits vs costs long-term for
American Businesses and populace, I find it hard to...
Proposed EW count for Gulf Coast Jet Fuel Futures:
Box denotes the wave travel of the minuette wave (I am not careful about using the correct EW notations) travel. I was tempted to label that as inermediate wave (3) but it would be the shortest wave and that wouldn't stack up.
I would be looking for wave C to possibly make a 1:1 or 1:1.618 extension for sub-wave...
3 scenarios: 2 bull 1 bear.
1. Bullish upper trend-line break from first wave leading diagonal (T1 equal to or greater than $106 and T2 ~$139),
2. ABC correction (blue) following extended correction - we are currently in wave B triangle (T1 $106 for 1:1 wave A),
3. Downward breakout for additional corrective retrace.
At this stage scenario 2 looks the more...
Cotton isn't that interesting right now. Once wave A has formed (there will not be enough detail to count 3 vs 5 sub-waves in wave A) there will be a small bounce and then wave C down looks attractive.
After seeing such a steep recent decline I started looking for signs of a bullish bounce. Unfortunately, it looks brutal:
1. recently retraced more than 100% of previous up-move, which indicated additional consolidation / correction is needed.
2. While it is a little messy, I can make out a 5 wave down move from the 2012 highs. This would mean we are likely...
I'm new to commodities and relatively new to Technical Analysis. No associated fundamental Analysis has been undertaken on Platinum.
This analysis is shared simply to further my own education and hopefully someone will appreciate it.
Silver is a very attractive investment opportunity, but as with any trade, the entry timing and price are critical. I am still looking for an extry point but regard silver as potentially very attractive as an investment / trding opportunity.
Natural Gas is a very popular commodity to trade. It is worth keeping an eye on for the formation of wave 1 of an up-move. It seems that the larger-degree corrective move has completed in 2016. Short-term, looking for a bounce off the lower channel trend-line.
After reading an analyst's conclusion that there was no bearish scenario for gold (after a trend-line bounce on the 3rd of July) I thought it may be worthwhile to have a look myself. My belief is that there is always a bearish and a bulish view, certainty has little place in markets. Here it is for whatever it is worth - solely an exercise in technical...