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...
As silver approached the target-box, the market showed a strong reaction and immediately turned lower. However, we still have no confirmation that the bears will succeed in pushing down the market towards $22. To confirm this move in wave (iv) in blue, we want to see the metal below $25.78 in the next step. In the long term, silver remains oriented towards...
With the Dow Jones Industrial Average reaching the target-box, the market jumps more than 400 index points in today's trading, while investors' hopes over the country's next coronavirus stimulus increased. Senate Minority Leader Chuck Schumer claimed that there is a "good chance" of reaching the agreement on the bill in the Senate, asserting the Republicans may...
The current slide in share prices are particularly felt by the high-flyers of the past weeks, including the papers from Apple . The recent sell-off, however, is still a clean correction. Following the primary expectation, the market has reached the target box for the current pullback. As long as the bulls hold above $105, we see the bulls stepping back in very...
Happy Labour Day! The Japan-based holding company, Soft Bank, reportedly purchased billions of dollars worth of equity derivatives in the United States, triggering a month-long rally in technology stocks. The surge in call option trading has surprised even market veterans who specialize in derivatives. Research by Goldman Sachs has shown that on a daily basis, the...
The S&P500 reached our target-box in yellow and dropped like a stone. The impulsive sell-off confirms our primary scenario. Our next target now resides at 3262 points, bevor the bulls have a Chace to push back. We give the scenario in which the market stabilizes, in the range of 3262 - 3075 points, a probability of 38%. Should the S&P500 reach the blue target...
Despite the turbulent news regarding the upcoming presidential election and the uncertain economic recovery, the bullish scenario remains intact. The index has hit the 29k region and is still going strong. The 29k points was the first target from the last Dow Jones Update. Should the bulls break out of the yellow target box, above 29559 points, the path for a...
The Bears are off to a good start after reaching our turnaround zone. After a spot landing on the 78.6% Retracement at $2001 price has dropped over $50, and we left our yellow target zone. We take that as a positive sign for further selloffs. However, a first good quarter doesn't make the game. We desperately need to break the red support line at $1916. Only if...
"Elvis has left the building!" The famous phrase was used by announcers to tell the audiences of the king, that there were no more encores. It has since become a well known catchphrase and punchline. The question that we have to ask ourselves regarding Ethereum: "have the bulls left the chart?" We think that reching the $450 area could mark a superior high. This...