Elliott Wave Forecast for Gold & Silver Hints at a Shiny Future...

Gold prices reversed higher August 16. The silver price chart shows a similar bottom. The Elliott Wave forecast for gold and silver in the coming months is for higher prices and we are looking for silver to potentially outperform gold for those gains. Gold and silver chart Elliott Wave analysis talking points: Both gold and silver appear to have carved a medium term bottom on August 15-16 Several Elliott Wave patterns point to 6-10% gains in the coming months The gold-silver ratio suggests silver may outperform gold’s rise Gold’s Elliott Wave chart shows large rally potential I have been relatively silent on gold’s chart since we called the top back in January and February as the Elliott Wave pattern has a few options at hand. If you recall from our article on January 25 “Gold prices hit 17 month high” (the day of the 2018 high) we forecasted a bearish reversal such that “in the coming months would be a correction down towards $1200.” A couple weeks later, we published Elliott Wave forecast for Gold and Silver Paint Bullish USD picture. In it, we noted how the “divergence in price behavior [between goldArticle source:...

AUDUSD Elliott Wave Forecasts a Bounce Towards 76 to 78 Cents...

AUDUSD Elliott Wave Talking Points AUDUSD appears to be finishing a bearish impulse wave Anticipate a corrective wave to form on the AUDUSD chart pushing it back towards 76 cents Continued near term weakness is not out of the question to slightly lower levels in order to finish the bearish impulse sequence The AUDUSD price chart has lived up to its expectations in 2018 thus far. Using Elliott Wave Theory, we forecasted in December 2017 a smooth start then a rough finish in 2018 for AUDUSD. We were targeting a potential reversal to occur near 82 cents that would lead to a multi-month sell off. AUDUSD did top out at .8136 on January 26. what Elliott wave are we in now? The complex correction that began September 2015 has ended at the January 2018 high. This complex correction is labeled w-x-y (Expanded Flat–Triangle–Zigzag). Beginning January 2018, we can count an impulsive wave leading down towards recent lows, though the structure of it is not pretty. This impulsive wave is mature as we are near its end, if this bearish waveArticle source:...

Elliott Wave Analysis for Copper Prices Suggests Weakness May Be Temporary...

Elliott Wave Copper Talking Points: Current Elliott Wave for copper is wave 2 of a larger bullish impulse wave Alternate counts for copper prices suggest the downward correction may linger on but hold above the 2016 low Multiple Elliott Wave patterns target 4.10 and possibly higher levels over the long term in copper For the past two months, copper prices have been falling hard down nearly 20% since the beginning of June 2018. With the effects of trade wars creating waves through the market, the higher probability move according to Elliott Wave theory is for support to emerge soon pushing copper prices towards 4.10. What Elliott Wave are we in now? Pulling out to a weekly chart for copper, we can count an Elliott Wave impulsive move beginning in January 2016. This impulse wave has terminated so according to Elliott Wave theory, we can anticipate a three wave correction to unfold to lower levels labeled A-B-C. It is possible this downward correction is over and support for copper prices may emerge as the proposed wave (2) can be counted as an Elliott Wave flat correction. If that is the case, then we will look for a waveArticle source:...

Bitcoin Elliott Wave Forecasts Near Term Support of Prices...

The Bitcoin Elliott Wave forecast suggests that shorter-term bullish patterns may emerge to drive the cryptocurrency back up to $11,600. Bitcoin Elliott Wave Analysis Talking Points: Bitcoin prices have been rallied from the 6,500 low in an impulse wave When an impulse wave starts a new trend, we anticipate a partial retracement followed by another bullish wave of similar size Above 7,800 anticipate a recovery up to 11,600 Bitcoin prices have been falling since the December 2017 high. Though we cannot say for sure if the multi-month correction is over, the rally that began on April 6 has taken the shape of a bullish impulse wave. Therefore, we know from our studies of Elliott Wave Theory that an impulse wave that begins a new trend typically means we are witnessing the beginning of a zigzag pattern or a larger degree impulse wave. In both scenarios, it is a high probability we see a partial retracement followed by another rally of similar size or Fibonacci proportions to the first wave. Fibonacci partial retracement The first movement we are looking for after the impulse wave rally is a partial retracement and correction lowerArticle source:...

Long Term Crude Oil Price Pattern Nears Terminal Point...

The Elliott Wave forecast for crude oil prices show a mature up trend and that a significant portion of the previous two year up trend may be retraced. Crude Oil Elliott Wave Talking Points: Weekly crude oil chart shows price nearing the end of a two year long wave Anticipating a bearish reversal to retrace a significant portion of the 2016-2018 up trend Crude oil chart shows wave relationships in the $71-$74 price area as a potential reversal zone The crude oil Elliott Wave analysis on the weekly price chart shows a bearish pivot may be occurring near current levels to retrace a significant portion of the previous two-year uptrend. On a weekly crude oil price chart, the Elliott Wave pattern we are following is that the current rise from the 2016 is a wave 4. We are showing this fourth wave as subdividing as a double zigzag pattern labeled W-X-Y. This pattern in general is a bearish pattern and suggests a deep correction may be on the horizon for crude oil prices. An Elliott Wave double zigzag pattern is simply two zigzags joined together by another corrective pattern labeled ‘X’. In this case, the ‘X’ wave isArticle source:...

Last Time This Happened in EURUSD was 1 Year Ago...

EURUSD sentiment has closed the day positive for the first time since April 2017. This, coupled with our Elliott Wave analysis is a longer-term bearish signal for EURUSD. In April 2017, EURUSD was trading near 1.06. IG client sentiment then flipped from positive to negative and remained negative until Monday’s daily close as sentiment is currently sitting at +1.05. Sentiment is a contrarian tool so this flip to positive is actually a negative signal for the EURUSD exchange rate. In hindsight, sentiment flipped from positive to negative in April 2017 and we say EURUSD rally over 1500 pips. Will this flip in sentiment create a similar bearish trend? Time will tell. This flip does not mean that we blindly go out and sell EURUSD, but it does indicate the EURUSD trend may be shifting. EURUSD Elliott Wave Analysis Our bias for EURUSD has been bearish for a couple of months now with a small probe in the market according to our April 9 Elliott Wave analysis. “If a trader is unwilling to wait for a more conservative entry at the 1.2153 break out level, then they could consider a shortArticle source:...