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  1. $43.79 is Key Level for Crude Oil Prices

    by , 05-25-2017 at 04:26 PM
    Now that crude oil prices have bounced from $43.79, the Elliott Wave model suggests sideways to higher trade in the coming weeks. The two favored patterns we are following right now is a big triangle or diagonal pattern.

    X Wave Triangle
    Under this triangle scenario, prices would need to top soon and below $55.21. If a short term pivot forms, we would anticipate one last dip to hold above $43.79 to finish off the triangle pattern. This is an overall bullish pattern that would ...
  2. Nikkei 225 Technical Analysis: RSI a Warning Signal Near Highs

    by , 05-20-2017 at 12:22 PM
    The Nikkei 225 has made its highs for the year in the past week. Indeed, it is now loitering around peaks not seen since the end of 2015.

    From such a lofty peak there’s only one question investors care about, no matter what the asset: can it stay here?
    Well, the technical signs are rather mixed as you’d expect. But they’re by no means universally gloomy.
    For one thing, the current thrust higher from April 17 has quite convincingly broken a notable down-channel in place ...
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  3. Euro Bullish as Traders are Short

    by , 05-16-2017 at 12:07 PM
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    In fact, traders have remained net-short since Apr 18 when EURUSD traded near 1.06101; price has moved 3.5% higher since then. The number of traders net-long is 6.2% lower than yesterday and 12.5% lower from last week, while the number of traders net-short is 17.7% higher than yesterday and 27.8% higher from last week.

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  4. USD/CAD Technical Analysis: Volatility Up Near YTD Highs

    by , 05-13-2017 at 08:14 AM
    The bid in Crude Oil over the last few sessions has been welcomed news for CAD longs, which benefit when USD/CAD falls. However, the news out of the energy market may not stay supportive for long. On Thursday, OPEC raised their 2017 estimate of supply growth from non-OPEC producers (i.e., US Shale) by 46%, which is a direct threat to the supply curbs put in place by OPEC and Russia and expected to be extended to help rebalance the market. While there has been a bounce in Crude Oil over the last ...
  5. Gold Prices Find Support; Will the Down Trend Continue?

    by , 05-11-2017 at 06:22 PM
    Gold prices have made little net progress over the past four months. Little net progress is typical of a corrective consolidative move. Gold prices, as of today, are still less than a 38% retracement of the December 2016 to February 2017 up trend. A shallow retracement of that nature suggests the longer term bull trend from December is not quite over.

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    Using Elliott Wave theory as a model, the sideways correction that began February 27 is ...
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