Wave ( X ) completed @ 3.278. Expect an intra-day pull back followed by a new low toward 3.13 – 3.14 region to complete 1st leg of the triangle thrust after which metal should correct the decline from 3.278 in 3 waves. We don’t like buying into proposed wave ( x ) pull back.

Recent push up has erased the divergence in RSI favouring the idea of a 7 swing move. Expect a corrective pull back followed by more strength toward 2.85 – 2.88% to complete wave ( X ) before 10 year note yields turn lower again into a double correction.

Wave (( X )) low appears to be in place at 93.07 and wave ( b ) is taking the form of a triangle which is valid above 93.80. While above 93.80 and more importantly 93.07, expect more upside in the instrument toward 96.21 – 96.78 from where we could see another 3 wave pull […]

Wave (4) is thought complete and rally from the low is completing an impulsive structure as expected. If the reaction after completion of current cycle turns out to be impulsive, that would favour the ALT view which is that of a FLAT wave X. We don’t like selling the instrument and if pull back after […]