Chart Request_Harmonic Elliott Wave and Hurst's Cyclic Analysis
Analysis of the Structure:
Looking into the weekly chart, I see XLE in wave IV of (a) of III, developing as a triangle.
Analysis of the Cycles:
I have the March 2020 low as an 18-year cycle trough. Right now, we are in the third 80W cycle of the current 54M cycle. Considering the nominal 54M cycle length, we should get the 54M cycle trough in August 2024 (wave (b) of III).
The 40W cycle trough in the current 18M cycle is expected on the December 2023.
Looking into the weekly chart, I see XLE in wave IV of (a) of III, developing as a triangle.
Analysis of the Cycles:
I have the March 2020 low as an 18-year cycle trough. Right now, we are in the third 80W cycle of the current 54M cycle. Considering the nominal 54M cycle length, we should get the 54M cycle trough in August 2024 (wave (b) of III).
The 40W cycle trough in the current 18M cycle is expected on the December 2023.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.