The S&P500 reaches our potential turnaround area, where we expect bearish action. We do not want to see a breakout above the 3502 points, otherwise our primary expectation would be neutralised. Our target is still the region around 2900 points.
Looking at the Gold Chart, there isn't much we could add. The chart says it all. We think that wave 3 in green is completed, and at the moment, the corrective wave 4 is underway. After wave 4, we expect the downtrend to continue. The target is the area at around $1800. Our scenario is valid as long as we do not reach prices above $1908. Should the bulls break...
We think not. Our primary expectation is, that the SP500 is geared for a bigger correction as indicated on the chart. Our target is the region around 2900 points. From there we expect new all time highs in the long run. Right now the bears should keep the index below 3502 points. If we see a break out above this resistance our primary scenario is no longer valid....
We updated our target for the correction in silver. Due to the breach of the $23 area, we have to expect further downward movement. The new target for a turnaround is between $19 and $15.50. A yellow box indicates the zone. This bigger correction leaves us with more potential to the upside after the current correction. We think that we are now ina major wave 2 in...
In the end, everything will be alright. Otherwise, it's not the end! In the Long run, after the current correction, we expect prices in Ethereum to rise significantly. In this rise, we might even break out to new all-time highs. Before that, however, we have to deal with another major drop in price. This drop might come earlier than expected. In our alternative...
If our plan pans out, Bitcoin is gearing up for much higher levels, in the range of the previous all-time highs. Nevertheless, we need completion of the correction before the bulls are strong enough for the next rally. This current correction in wave 2 in blue should at least bring prices in the area of $8200. From there, we expect strong support and bullish...
According to Bank of America, the US tech sector is now worth more than the entire European stock market. Although, in the wake of the recent setback in the tech sector, the main concern seems to be massive overvaluation as a reason for the latest selloff. We, however, see arguments against a pessimistic view. Many tech stocks are seen as profiteers of the virus...
The fear of a new corona wave swept through Wall Street on Monday, and the S&P500 fell back to levels from early August. The downward trend that has been going on for weeks since the high in the 3600-point range is thus continuing and reached our target zone. However, further turbulence must still be taken into consideration. On the one hand, expectations...
WTI on the rise! After confirming our turnaround zone in yellow, oil is poised for higher prices. The end of wave 3 in green is expected in the area of $60. However, we do not want to see prices dipping below $38.45. Below this support line, chances accumulate that further correction is on the way, as the bears are gaining in strength. Should oil trade below...
Starting the week, the S&P500 continues the primary expectation and reaches the first target area for the current decline. On Sunday, the U.S. reported 32,186 new coronavirus cases, and several European countries have also seen a steady increase in COVID 19 cases over the past 24 hours spreading pessimism amongst investors. The World Health Organization predicts...
Silver is tanking! After reaching our defined turnaround zone in yellow, the bears take over the market. Just as indicated in our first Silver post (👇🏿 hyperlinked below 👇). The support level at $25.78 is broken, and the downtrend accelerates. The next support to watch out for is at $23.58. At around $23, we expect the next major countermove. Happy Trading!...
Coming down... Gold takes another dive and confirms our turnaround zone. The purple trendline is broken, which sends a positive signal for further downwards pressure. However, there is another hurdle coming up. We are talking about the $1908 area where support is to be expected. Nevertheless, the bears should be able to bring prices down to roundabout $1860. In...
Crude oil prices continue to rise after reaching our target area (marked in yellow). After the Joint Ministerial Monitoring Committee (JMMC) of the OPEC+ met on Thursday, Saudi Arabia made a strong appeal to members of the OPEC+ oil consortium. Saudi Oil Minister Prince Abdulaziz bin Salman warned that "full compliance is not an act of charity" and noted that any...
Rangebound! At the moment, the EUR/USD is ranging in the $1.18 area. The bears weren't able to get enough selling pressure on the market to push below the 23.6% retracement. We cannot ignore this lack of strength, and we adjusted our primary expectation. Until we dip below the 23.6% retracement at $1.17094, we have to expect further bullish action. Target zone...
French open Stade Roland Garros 1983... It is 45 to 55 that the bears make the match by turning the market around. We see a 55% chance for the bears to win the match by pushing down prices in the direction of $1900. However, with a 45% chance, the bulls are on the heels of the bears. We have highlighted a potential turnaround zone. Should the bears waste this...
We are ready! The crypto community is ready! The whales are ready! But not so fast. This doesn't mean the bulls are ready to take on to new all-time highs. Before Ethereum is poised to set out to new highs, we need to complete the current correction pattern. As long es we don't see prices dropping to at least $288, the light for another Rallye will not turn...
Is Bitcoin gearing up for a new all-time high? The "to-the-mooners" 🌚 will blatantly nod their heads, but also the Elliott waves might suggest that a new all-time high is coming. However, this bold statement comes attached with some conditions. Most important, we need at least a corrections to price areas of $8200, where the ideal price target for a wave 2 is...
The heat is on! Either the bulls launch an offensive, or we see prices drop below $30 a barrel. Should the bulls fail in fulfilling this task and prices fall below the support of $36.49, further downward movements are imminent. Invalidation of the underlying scenario occurs below $34.36. Therefore stops for Long ambitions should be placed just below the...