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Elliott Wave View: Amazon (AMZN) Should See Further DownsideShort Term Elliott Wave view suggests decline from November 19, 2021 peak is unfolding as a 5 waves impulse Elliott Wave structure. Down from November 19 peak, wave 1 ended at 3303.90 and rally in wave 2 ended at 3458.86. The stock then extends lower in wave 3 towards 3126.09 with internal subdivision of an impulse in lesser degree as the 60 minutes chart below shows. Down from wave 2, wave ((i)) ended at 3323.21 and wave ((ii)) ended at 3428. Wave ((iii)) ended at 3238.74, wave ((iv)) ended at 3304.86, and wave ((v)) ended at 3145.63 which also completed wave 3. Rally in wave 4 ended at 3337.68 with internal subdivision as a zigzag structure. Up from wave 3, wave ((a)) ended at 3251.08, wave ((b)) ended at 3232, and wave ((c)) of 4 ended at 3337.68. Stock has resumed lower in wave 5 which should subdivide in 5 waves. The stock still needs to break below wave 3 to validate the view and rule out a double correction. Down from wave 4, wave ((i)) ended at 3196.01 and rally in wave ((ii)) ended at 3245. Near term, as far as pivot at 3337.68 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.
NASDAQ:AMZN
by Elliottwave-Forecast
Elliott Wave View: USDSEK Impulsive Rally Should ExtendShort Term Elliott Wave view suggests cycle from December 6, 2021 high has ended with wave (4) at 8.896. Internal subdivision of wave (4) unfolded as  a Flat Elliott Wave structure. Down from December 6 high, wave A ended at 9.0025 and rally in wave B ended at 9.1494. Pair then extended lower in wave C towards 8.896. We can see in the 45 minutes chart below the internal of wave C subdivided as a 5 waves impulse. Down from wave B, wave ((i)) ended at 9.0613 and rally in wave ((ii)) ended at 9.1037. Pair then extended lower in wave ((iii)) to 8.9025, wave ((iv)) ended at 8.941, and wave ((v)) ended at 8.8961. This completed wave C and (4) in higher degree. Pair has turned higher in wave (5). However, it still needs to break above December 6, 2021 high (9.1859) to rule out a double correction. Up from wave (4), wave (i) ended at 8.939 and pullback in wave (ii) ended at 8.903. Pair then extended higher in wave (iii) towards 9.036, and pullback in wave (iv) ended at 9.0153. Final leg higher wave (v) ended at 9.0429 and this completed wave ((i)) in higher degree. Near term, wave ((ii)) pullback is in progress to correct cycle from January 13, 2022 low before the rally resumes. As far as pivot at 8.8961 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
U
by Elliottwave-Forecast
1
Elliott Wave View: SPDR S&P 500 ETF (SPY) Looking for More DownsShort Term Elliott Wave View in S&P500 ETF (SPY) suggests rally to 480.02 ended wave ((1)) on January 4, 2022 high. Wave ((2)) pullback is currently in progress with subdivision as a zigzag Elliott Wave structure. Down from January 4, wave 1 ended at 475.58 and rally in wave 2 ended at 478.96. The ETF extends lower in wave 3 towards 462.74 with internal as an impulse in lesser degree. Down from wave 2, wave ((i)) ended at 476 and rally in wave ((ii)) ended at 477.98. Wave ((iii)) ended at 465.43, wave ((iv)) ended at 470.82, and wave ((v)) ended at 462.74. This completed wave 3 in higher degree. Wave 4 bounce ended at 467 and the last push lower wave 5 ended at 456.60 which also completed wave (A). Wave (B) correction is proposed complete at 473.20. Internal of wave (B) unfolded as a zigzag structure. Up from wave (A), wave A ended at 468.06 and pullback in wave B ended at 462.05. The ETF then extends higher in wave C towards 473.20 which also completed wave (B). Wave (C) lower is now in progress but SPY still needs to break below wave (A) to validate the view. Down from wave (B), wave ((i)) ended at 468.94 and wave ((ii)) ended at 472.88. Wave ((iii)) ended at 463.44, wave ((iv)) ended at 467.39 and another push lower in wave ((v)) should end soon. This should complete wave 1 of (C), then the ETF should rally in wave 2 before the decline resumes. Near term, as far as pivot at 480.02 high stays intact, expect rally to fail in 3, 7, or 11 swing for more downside.
AMEX:SPY
by Elliottwave-Forecast
2
Elliott Wave View: Rally in Bitcoin May FailShort Term Elliott Wave View in Bitcoin shows a 5 swing bearish sequence from November 10, 2021 high favoring more downside. Decline from there is unfolding as a double three Elliott Wave structure. Down from November 10, wave (A) ended at 53308.93 and wave (B) ended at 59099.64. The crypto currency then extended lower in wave (C) towards 41967.50 and this completed wave ((W)) in higher degree. Rally in wave ((X)) ended at 52089.1. Bitcoin extended lower again and it has broken below wave ((W)) confirming that wave ((Y)) has started. Wave ((Y)) lower is unfolding as a zigzag structure. Down from wave ((X)), wave (A) ended at 39558.7 with internal subdivision as a 5 waves impulse. Wave (B) has either completed already or it can see a marginal high towards 44418 – 46355 blue box area before the crypto currency resumes lower. Near term, as far as pivot at 52089.11 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside. Potential target lower in Bitcoin is 100% – 123.6% Fibonacci extension from November 10, 2021 peak. This area comes at 19061 – 25341 where strong support can be seen.
BITSTAMP:BTCUSD
by Elliottwave-Forecast
1
Elliott Wave View: Apple (AAPL) Can See Further DownsideShort Term Elliott Wave View in AAPL suggests the decline from January 04th peak is unfolding as a zig zag Elliott Wave structure. Down from January 04th high, wave ((i)) ended at 174.46. Wave ((ii)) bounce was a strong movement pullback completed at 179.80. Then the stock continued dropping to complete wave ((iii)) at 172.10. In lesser degree, we could see a triangle structure as wave ((iv)) ending the sideways movement at 172.55. The last push lower ended wave ((v)). It also completed the first leg of the zig zag structure wave A ended at 168.17. Near term, we are looking to complete wave B bounce. We are suggesting a zig zag structure for this purpose, where wave ((a)) already ended at 174.08 and pullback as wave ((b)) is also done at 170.82. We are expecting more upside to complete wave ((c)) and wave B before turning lower again. The view is valid as far as we stay below 183.35 and it should continue dropping below 168.17 to confirm the fractal and complete wave (4) in upper degree. Potential target for wave ((c)) is 100% – 161.8% Fibonacci extension of wave ((a)) which comes at 176.7 – 180.4.
NASDAQ:AAPL
by Elliottwave-Forecast
3
Elliott Wave View: AMD Rally Should FailShort Term Elliott Wave View in AMD suggests the decline from December 28, 2021 peak is unfolding as an impulse Elliott Wave structure. Down from December 28 high, wave ((1)) ended at 144.85. Wave ((2)) bounce made an irregular flat structure completed at 152.42. Then the stock continued dropping in 5 swings proposing other impulse as wave ((3)). In lesser degree, wave (1) of ((3)) ended at 140.70. Wave ((2)) pullback just bounced to 144.74 then it resumed the drop immediately to 131.77 and completed wave (3). Then wave (4) bounce ended at 137.72, completing the whole impulse with further downside as wave (5) to 125.03 and also wave ((3)). Near term, we are looking to complete wave ((4)) bounce. We are suggesting a zig zag structure for this purpose, where wave (A) could be done already and we should see a pullback as wave (B) and then a last push higher to complete wave (C) and wave ((4)) as we could in the chart below. After this. we should turn lower again to complete wave ((5)) of the impulse from December 28 high. Potential target lower is 100% – 161.8% Fibonacci extension from November 30, 2021 high which comes at 101.1 – 122.3.
NASDAQ:AMD
by Elliottwave-Forecast
Elliott Wave View: AUDJPY Turning LowerShort Term Elliott Wave View in AUDJPY suggests cycle from December 4, 2021 low has ended with wave ((B)) at 84.3. Internal of wave ((B)) unfolded as a double three Elliott Wave structure. Up from December 4 low, wave (W) ended at 82.43 and pullback in wave (X) ended at 80.25 Pair then extends higher in wave (Y) which ended at 84.32. Double three is a 3-3-3 structure where wave (W) and wave (Y) subdivided in 3 waves. In the 30 minutes chart below, we could see the subdivision of (Y) is in ABC zigzag. The chart shows wave B ended at 82.804 and wave C ended at 84.32. The pair has now turned lower in wave ((C)). For confirmation of this view, pair still needs to break below wave ((A)) low on December 4, 2021 at 78.77. At minimum, we can expect a 3 waves down in the pair to correct cycle from December 4, 2021 low. Near term, down from January 6, 2022 wave ((B)) high, wave ((i)) ended at 83.705 and rally in wave ((ii)) ended at 83.88. As far as pivot at 84.32 high stays intact, expect pair to continue lower in 5 waves to complete wave 1. Pair should then rally in wave B to correct the decline from wave ((B)) peak before it resumes lower.
A
by Elliottwave-Forecast
Elliott Wave View: Dow Futures (YM) Ending Wave 5Short Term Elliott Wave View in Dow Futures (YM) suggests rally from December 2, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from December 2 low, wave 1 ended at 36030 and dips in wave 2 ended at 34547. Index then resumes higher in wave 3 towards 36572 and pullback in wave 4 ended at 36120. The internal subdivision of wave 4 unfolded as a zigzag structure where wave ((a)) ended at 36121, wave ((b)) ended at 36435, and wave ((c)) ended at 36125. Wave 5 is currently in progress as another impulse in lesser degree. Up from wave 4, wave ((i)) ended at 36347 and pullback in wave ((ii)) ended at 36153. Index then resumes higher in wave ((iii)) towards 36804. Near term, as far as pivot at 36125 low stays intact, expect wave ((iv)) dips to find support in the sequence of 3, 7, or 11 swing for 1 more push higher to end wave ((v)). The move higher should also complete wave 5 of 5 of ((1)) in higher degree. Afterwards, expect a larger pullback in 3 waves at least to correct cycle from December 2, 2021 low.
CBOT_MINI:YM1!
by Elliottwave-Forecast
1
Elliott Wave View: Ethereum (ETHUSD) Looking to Do Double CorrecThe Elliott wave view in Ethereum (ETHUSD) suggests the decline from November 10, 2021 high is unfolding as a double three Elliott Wave structure. Down from November 10 high, wave (W) ended at 3470.02 and rally in wave (X) ended at 4493.59. Wave (Y) lower is in progress with internal subdivision as a zigzag Elliott Wave structure. Down from wave (X), wave A ended at 3640.60 with the internal of a diagonal. Wave ((i)) of A ended at 3833.66 and rally in wave ((ii)) ended at 4177.62. The crypto currency then extends lower in wave ((iii)) towards 3669.48 and rally in wave ((iv)) ended at 3900.94. Final leg lower wave ((v)) ended at 3640.60 and this completed wave A. Rally in wave B ended at 4155 with internal subdivision as a zigzag. Up from wave A, wave ((a)) ended at 4094.78 and pullback in wave ((b)) ended at 3695.19. Final leg higher wave ((c)) ended at 4155 and this completed wave B. Wave C lower is currently in progress as a 5 waves impulse. Near term, expect a few more lows before ending wave ((i)) of C. Then Ethereum should rally in wave ((ii)) to correct the decline from December 23 wave B high before the decline resumes. As far as pivot at 4493.59 high remains intact, expect the crypto currency to continue to extend to the downside. Potential target lower is 100% – 161.8% Fibonacci extension from November 10, 2021 high which comes at 2234 – 3098.
BITSTAMP:ETHUSD
by Elliottwave-Forecast
1
Elliott Wave View: Russell (RTY) Extends LowerShort-term Elliott wave view in Russell (RTY) shows a lower low bearish sequence from November 8, 2021 high. Decline from November 8 high is unfolding as a zigzag Elliott Wave structure where wave ((A)) ended at 2136.8 and rally in wave ((B)) completed at 2279.83. The Index has extended lower and broken below wave ((A)) suggesting wave ((C)) lower has started. The internal subdivision of wave ((C)) is unfolding as a 5 waves impulse. Down from wave ((B)), wave 1 ended at 2196 and rally in wave 2 ended at 2227.10. Index then resumes lower in wave 3 towards 2160.10 and wave 4 ended at 2165.9 as a triangle. Final leg lower wave 5 ended at 2130.10 and this completed wave (1). Correction in wave (2) ended at 2227.60. Index then resumes lower in wave (3) as another impulse in lower degree. Down from wave (2), wave 1 ended at 2102.30. Rally in wave 2 is in progress to correct cycle from December 16 high before the decline resumes. Near term, as far as pivot at 2279.83 high stays intact, expect rally to fail in the sequence of 3, 7, or 11 swing for further downside.
CME_MINI:RTY1!
by Elliottwave-Forecast
Elliott Wave View: Nasdaq (NQ) Turning LowerShort-term Elliott wave view in Nasdaq (NQ) suggests rally to 16770.32 ended wave III. Pullback in wave IV is currently in progress with subdivision as a double three Elliott Wave structure. Down from November 22, 2021 peak, wave (A) ended at 16102, and rally in wave (B) ended at 16456.25. Index then extends lower in wave (C) towards 15538. This completed wave ((W)) in larger degree. Index then rallied in wave ((X)) with subdivision as a zigzag. Up from wave ((W)), wave (A) ended at 16436.75 and pullback in wave (B) ended at 15734. Index then extends higher in wave (C) towards 16457 which completed wave ((X)). The Index has turned lower again in wave ((Y)). It however still needs to break below wave ((W)) at 15538 to validate the view. Near term, it’s expected to rally in wave B to correct cycle from December 16, 2021 peak before the next leg lower. As far as pivot at 16770.32 high stays intact, expect wave B rally to fail in the sequence of 3, 7, or 11 swing for more downside. Potential target to the downside is the 100% – 161.8% Fibonacci extension of wave ((W)) towards 14467 – 15227 area.
CME_MINI:NQ1!
by Elliottwave-Forecast
Elliott Wave View: CADJPY Correcting in 3 WavesShort-term Elliott wave view in CADJPY suggests the decline from October 21, 2021 peak is unfolding as a zigzag Elliott Wave structure. Down from October 21 peak, wave ((A)) ended at 87.82 and rally in wave ((B)) ended at 90.36. The internal subdivision of wave ((B)) unfolded as an expanded Flat structure. Up from wave ((A)), wave (A) ended at 89.12, dips in wave (B) ended at 87.68. Pair then extends rally higher in wave (C) to 90.36. In the 45 minutes chart below, we can see the internal subdivision of wave (C) in 5 waves. Up from wave (B), wave 1 ended at 88.19 and wave 2 ended at 87.88. Pair then resumes higher in wave 3 towards 89.92, pullback in wave 4 ended at 89.47, and final leg higher wave 5 ended at 90.3. This completed wave ((B)) in higher degree. Pair has turned lower in wave ((C)), but it still needs to break below the previous low at 87.68 to validate the view. Down from wave ((B)), wave 1 ended at 89.09, and rally in wave 2 ended at 89.6. Pair then resumes lower in wave 3 towards 88.37, rally in wave 4 ended at 88.69, and final leg lower wave 5 ended at 88.05. This completed wave (1) of ((C)). Wave (2) rally is now in progress to correct cycle from December 8, 2021 peak before the decline resumes. Rally should unfold in the sequence of 3, 7, or 11 swing and as far as pivot at 90.36 high remains intact, expect pair to resume lower.
C
by Elliottwave-Forecast
Elliott Wave View: Apple (AAPL) looking to correct lowerShort term Elliott Wave View in Apple (AAPL) suggests at minimum cycle from December 2 low has ended. Cycle from December 2 low unfolded in a 5 waves impulse Elliott Wave structure. Up from December 2 low, wave 1 ended at 164.2 and dips in wave 2 ended at 159.72. Internal subdivision of wave 2 unfolded as an expanded flat where wave ((a)) ended at 162, wave ((b)) ended at 165.4, and wave ((c)) ended at 159.72. The stock then resumed higher in wave 3 towards 175.96 with internal subdivision as another impulse in lesser degree. Up from wave 2, wave ((i)) ended at 167.88 and pullback in wave ((ii)) ended at 164.83. The Stock extends higher in wave ((iii)) towards 173.88, dips in wave ((iv)) ended at 170.70 and final leg higher wave ((v)) ended at 175.96. This completed wave 3 in higher degree. Pullback in wave 4 ended at 173.61, and final leg higher wave 5 is proposed complete at 176.77. This also completed several higher degree cycles. The stock has turned lower and the decline is unfolding as an impulse. Down from December 9 high at 176.77, wave (1) ended at 173.92 and rally in wave (2) ended at 176.20. The stock has resumed lower in wave (3). Near term, as far as pivot at 176.77 stays intact, expect the rally to fail in the sequence in 3, 7, or 11 swing. Apple should correct at minimum the cycle from December 2 low with possibility of ending larger degree cycle and correcting in larger degree.
NASDAQ:AAPL
by Elliottwave-Forecast
1
Elliott Wave View: Rally in Nifty Expected to FailShort term Elliott Wave View in Nifty suggests cycle from October 19 peak ended at 16796.56 with wave ((A)). Internal subdivision of wave ((A)) unfolded as a 5 waves impulse Elliott Wave structure. Down from October 19 peak, wave (1) ended at 17613.1, and rally in wave (2) ended at 18210.15. Index then resumes lower in wave (3) towards 17216.10 and bounce in wave (4) ended at 17599.75. Final leg lower wave (5) ended at 16796.56 which also completed wave ((A)) in higher degree. The Index is now correcting cycle from October 19 peak in wave ((B)). The internal subdivision of wave ((B)) is unfolding as a double three Elliott Wave structure. Up from wave ((A)), wave A ended at 17324.65, dips in wave B ended at 16931.40, and wave C ended at 17489.8. This completed wave (W) of the double three. Index then pullback in wave (X) which ended at 16891.70. Index then turns higher in wave (Y) with internal as a zigzag. Up from wave (X), wave A ended at 17251.65 and wave B pullback ended at 17158.05. Near term, expect Index to extend higher towards 17597.47 – 18035.89 to finish wave (Y) of ((B)). From here, the Index then can resume lower in wave ((C)) or at least pullback in 3 waves.
NSE:NIFTY
by Elliottwave-Forecast
Elliott Wave View: AUDUSD Corrective Zigzag Rally in ProgressAUDUSD shows a 5 swing incomplete bearish sequence from February 2021 peak favoring further downside to complete a 7 swing double three Elliott Wave structure. Short Term Elliott Wave view suggests AUDUSD ended cycle from October 29, 2021 peak in wave (A) at 0.6993. The internal structure of wave (A) unfolded as a 5 waves impulse. Down from October 29 high, wave 1 ended at 0.7357 and rally in wave 2 ended at 0.743. Pair resumes lower in wave 3 towards 0.706 and bounce in wave 4 ended at 0.7173. Final leg lower wave 5 ended at 0.6989 which completed wave (A) in higher degree. Rally in wave (B) is in progress to correct cycle from October 29 peak before pair resumes lower again. Internal of wave (B) is unfolding as a zigzag Elliott Wave structure. Near term, expect pair to end wave A of this zigzag soon, then it should pullback in wave B to correct the rally from December 4, 2021 low before pair resumes higher again. Near term, as far as pivot at 0.699 low stays intact, expect dips to find support in 3, 7, or 11 swing for more upside.
A
by Elliottwave-Forecast
1
Elliott Wave View: Dow Futures (YM) Looking for More DownsideShort-term Elliott wave view in Dow Futures (YM_F) suggests that cycle from October 1, 2021 low ended with wave (1) at 36452. The Index is now correcting that cycle within wave (2). Internal subdivision of wave (2) unfolded as a zigzag Elliott Wave structure. First leg of the zigzag wave A subdivided into an impulse structure. Down from wave (1), wave ((i)) ended at 35823 and rally in wave ((ii)) ended at 36238. Index then resumes lower in wave ((iii)) towards 35593 and bounce in wave ((iv)) ended at 35880. FInal leg lower wave ((v)) ended at 35370 and this completed wave A. Bounce in wave B ended at 35900 with internal subdivision as a double three Elliott Wave structure. Up from wave A, wave ((w)) ended at 35793 and pullback in wave ((x)) ended at 35532. Final leg higher wave ((y)) ended at 35900 and this completed wave B. While rally fails below 35900, and more importantly below 36452, expect the Index to continue lower in wave C of (2). Potential target for wave C of (2) is 100% – 161.8% Fibonacci extension of wave A at 34188 – 34840.
CBOT_MINI:YM1!
by Elliottwave-Forecast
Elliott Wave View: Rally in FTSE Expected to FailShort-term Elliott wave view in FTSE suggests cycle from September 20, 2021 low has ended with wave (1) at 7403.36. The Index is currently correcting that cycle within wave (2). Internal subdivision of wave (2) is unfolding as a zigzag Elliott Wave structure. Down from wave (1), wave ((i)) ended at 7342.61 and rally in wave ((ii)) ended at 7370.01. Index resumes lower in wave ((iii)) towards 7241.99 and bounce in wave ((iv)) ended at 7289.51. Final leg lower wave ((v)) ended at 7198.76 and this completed wave A. Rally in wave B is in progress to correct cycle from November 12, 2021 high. Internal subdivision of the rally is unfolding as another zigzag in lesser degree. Up from wave A, wave ((a)) ended at 7307.89 and pullback in wave ((b)) ended at 7245.98. Near term, expect the Index to extend higher in wave ((c)) towards 100%-123.6% extension area at 7355.55 – 7381.47 . This should complete wave B in higher degree before the Index turns lower. As far as pivot at 7403.36 high remains intact, expect the rally to fail in 3, 7, or 11 swing for further downside in wave C.
TVC:UKX
by Elliottwave-Forecast
Elliott Wave View: Dollar Index (DXY) Could Extend the Rally HigShort-term Elliott wave view in Dollar Index suggests cycle from October 28 low is in progress as a 5 waves impulse Elliott Wave structure. Up from October 28 low, wave 1 ended at 94.3 and pullback in wave 2 ended at 93.82. Wave 3 is currently in progress with subdivision as another impulse in lesser degree. Up from wave 2, wave ((i)) ended at 94.62 and pullback in wave ((ii)) ended at 93.87. Index then resumes higher in wave ((iii)) to 96.24, and dips in wave ((iv)) ended at 95.5. Expect the Index to extend higher 1 more leg before ending wave ((v)). This should complete wave 3 in higher degree. Afterwards, it should correct cycle from November 4 low in wave 4 in larger degree before the rally resumes. Near term, as far as pivot at 95.5 low stays intact, expect the Index to continue to see further upside to end wave 3. Later, expect larger degree wave 4 pullback to also find support in 3, 7, or 11 swing for further upside. Potential support area for wave 4 can be measured later once wave 3 completes at 23.6 – 38.2 Fibonacci retracement of wave 3.
ICEUS:DX1!
by Elliottwave-Forecast
Elliott Wave View: DAX Starting CorrectionShort-term Elliott wave view in DAX suggests cycle from October 6, 2021 low has ended as an impulse Elliott Wave structure. Up from October 6, wave 1 ended at 15781 and pullback in wave 2 ended at 15495.51. The Index then extends higher in wave 3 towards 16104.13, dips in wave 4 ended at 15985.90, and final leg wave 5 ended at 16290.19. This completed wave (1) in higher degree. The Index is now correcting cycle from October 6 low in larger degree 7 swing within wave (2). The first 3 swing is in progress as a zigzag from November 18 wave (1) high. Down from there, wave (i) ended at 16234.31 and rally in wave (ii) ended at 16282.87. Index then resumes lower in wave (iii) towards 16146.84, rally in wave (iv) ended at 16238.29, and final leg lower wave (v) of ((a)) ended at 16092.63. Index then corrected in wave ((b)) which ended at 16202.77. Wave ((c)) lower is in progress as another 5 waves. Down from wave ((b)), wave (i) ended at 16090.54 and rally in wave (ii) ended at 16175.05. Expect the Index to continue lower within wave ((c)) as far as rally fails below 16290.89.
XETR:DAX
by Elliottwave-Forecast
Elliott Wave View: GDX Starts New Bullish CycleShort Term Elliott Wave view on GDX suggests cycle from October 4, 2021 low is in progress as a 5 waves impulse Elliott Wave structure. Up from October 4 low, wave (1) ended at 33.95 and pullback in wave (2) ended at 30.96. The ETF then extended higher and broke above wave (1), suggesting wave (3) has started. Up from wave (2) low, wave ((i)) ended at 32.69 and pullback in wave ((ii)) ended at 31.65. The ETF then extends higher in wave ((iii)) with internal subdivision as another impulse in lesser degree. Up from wave ((ii)) low, wave (i) ended at 33.15 and wave (ii) ended at 32.57. Wave (iii) ended at 34.83, wave (iv) ended at 34.21, and wave (v) of ((iii)) ended at 35.01. Pullback in wave ((iv)) ended at 34.47. Near term, while dips stay above 30.96, expect the ETF to extend higher in wave ((v)). This move should also end wave 1 in higher degree and complete cycle from November 3 low. Afterwards, GDX should pullback in wave 2 to correct cycle from November 3 low in 3, 7, or 11 swing before the rally resumes. Potential target higher is 100% – 161.8% fibonacci extension from October 4 low towards 36.17 – 39.37. Near term, as far as pivot at 30.96 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
AMEX:GDX
by Elliottwave-Forecast
1
Elliott Wave View: Litecoin Should See Further UpsideShort-term Elliott wave view in Litecoin suggests the rally from October 27, 2021 low is in progress as a 5 waves impulse Elliott Wave structure. Up from October 27 low, wave (i) ended at 187.82 and pullback in wave (ii) ended at 178. The crypto currency has extended higher in wave (iii) towards 198.62. Dips in wave (iv) ended at 188 and final leg higher wave (v) ended at 209.69. This completed wave ((i)) in higher degree. Pullback in wave ((ii)) ended at 191.39 with internal subdivision as a double three Elliott Wave structure. Down from wave ((i)), wave (w) ended at 196.45, wave (x) ended at 203.93, and wave (y) of ((ii)) ended at 191.39. The crypto currency then extends higher again in wave ((iii)) with internal subdivision as another 5 waves in lesser degree. Up from wave ((ii)) low, wave (i) ended at 200.51 and dips in wave (ii) ended at 198.84. Wave (iii) ended at 256.20, wave (iv) ended at 246.51, and wave (v) of ((iii)) ended at 274.54. Near term, wave ((iv)) pullback is in progress to correct cycle from November 6 low before the rally resumes. As far as pivot a 191.39 low stays intact, expect dips to find support in 3, 7, or 11 swing for more upside.
BITSTAMP:LTCUSD
by Elliottwave-Forecast
3
Elliott Wave View: Oil (CL) Looking for 3 Waves RallyShort-term Elliott wave view in Oil (CL) suggests the decline from Oct 25, 2021 peak is unfolding as a zigzag Elliott Wave structure. Down from Oct 25, wave ((i)) ended at 80.58 and bounce in wave ((ii)) ended at 84.88. The commodity then extends lower in wave ((iii)) towards 79.69 and bounce in wave ((iv)) ended at 83.42. Last leg lower wave ((v)) ended at 78.25 which completed wave A of the zigzag. Wave B rally is in progress with internal division as another zigzag Elliott Wave structure in lower degree. Up from wave A, wave (i) ended at 80.17 and pullback in wave (ii) ended at 78.96. Oil then extends higher in wave (iii) towards 82.47, and dips in wave (iv) ended at 81.96. Final leg higher wave (v) ended at 82.67 which completed wave ((a)) of B. Pullback in wave ((b)) is in progress to correct the cycle from November 5 low before Oil resumes higher in wave ((c)) of B. Near term, as far as pivot at 78.25 low remains intact, expect dips to find support in 3, 7, or 11 swing before the next leg higher.
NYMEX:CL1!
by Elliottwave-Forecast
1
Elliott Wave View: EURUSD Should Continue LowerShort-term Elliott wave view in EURUSD suggests the decline from May 25, 2021 peak is unfolding as a 5 waves impulse Elliott Wave structure. Down from May 25, wave (1) ended at 1.1664 and rally in wave (2) ended at 1.1909. Pair then extends lower in wave (3) towards 1.1522 and bounce in wave (4) ended at 1.1692. Internal of wave (4) subdivided into a double three structure. Up from wave (3), wave W ended at 1.1669, wave X ended at 1.1583, and wave Y ended at 1.1692. Wave (5) is currently in progress lower. Internal of wave (5) unfolded as an impulse in lesser degree. Down from wave (4), wave 1 ended at 1.1533 and bounce in wave 2 ended at 1.16164. Internal of wave 2 unfolded as a zigzag structure where wave ((a)) ended at 1.1613, wave ((b)) ended at 1.156, and wave ((c)) ended at 1.16164. Pair has resumed lower in wave 3. Down from wave 2, wave ((i)) ended at 1.1526. Near term, while wave ((ii)) rally fails below 1.16164, and more importantly below 1.1692, expect pair to extend lower. Potential target lower is 100% – 161.8% Fibonacci extension of wave 1 at 1.1359 – 1.145.
E
by Elliottwave-Forecast