After forming a low on September 3, 2019 at 115.8, EURJPY has rallied in 3 waves. The rally ended at 120.62 and we labelled this bounce as wave 4. As the structure of the rally from September 3, 2019 low is in 3 waves, this tells us that the rally is only a correction. The […]

Short term Elliott Wave view on IBEX calls the rally from August 15, 2019 low (8405.39) as a 5 waves impulse Elliott Wave structure. Up from 8405.3, wave ((i)) ended at 8806.4 and wave ((ii)) pullback ended at 8592.70. Index then resumed higher in wave ((iii)) towards 9123.9, wave ((iv)) pullback ended at 8964, and […]

Reserve Bank of New Zealand (RBNZ) will have monetary policy announcement at 02.00 GMT this Wednesday. Market consensus is for the central bank to keep Overnight Cash Rate (OCR) at 1%. RBNZ has cut 50 bps last month, more than market’s expectation. Thus RBNZ is likely to wait a little bit to see the impact […]

Elliott Wave view on Chesapeake Energy Corp (ticker symbol: CHK) suggests the rally to 2.17 ended wave (B). This suggests the stock has turned lower in wave (C) and can break below August 7 low (1.26). The stock however needs to break below 1.26 to confirm the bearish view and avoid a double correction in […]

SPY broke above July 27 peak and showing incomplete short term sequence from June 3 low. This video talks about the short term Elliott Wave path.

After the 18% gap on the news of Saudi Arabia’s oil refinery attack, Oil has retraced. This video looks at the Elliott Wave path.