Cycle from 1/21 low remains in progress as 5 waves and dip to 17331.07 ended wave (4). Rally from there is unfolding as a double three structure where wave ((w)) ended at 17891.6 and wave ((x)) ended at 1660.87 on 6/1. Near term, cycle from 6/1 low is proposed complete with wave (w) at 17948.9, and the […]

Elliott Wave Theory Structure : A Running Triangle  Triangles are overlapping five wave structures. They subdivide into five, three swing moves as 3-3-3-3-3 that give pause to a trend. This consolidates the progress made during a trending move that can be either bullish or bearish. These will only show up in the fourth waves of […]

In this technical blog we are going to take a look at Fundamental & Technical point of view of US steel. The steel industry continues to face a challenging economic environment due to the economic slowdown in China, volatility in financial markets, slow growth in global trade, and low prices of oil and other commodities. […]

Short term Elliottwave structure suggests that the cycle from 5/6 low has ended with wave (X) at 85.5. Decline from there is taking the form of a zigzag. Wave ((a)) of the zigzag is currently in progress as 5 waves diagonal where wave (i) ended at 84.13, wave (ii) ended at 84.85, wave (iii) ended at 83.28 and wave […]