Wave B high is proposed to be in place at 3.32. Triangle consolidation broke lower as expected, expect a test of 3.209 – 3.225 area to produce a corrective (( b )) wave bounce and lower again.

Preferred view suggests wave B completed 99.40 and rally from this level is  taking the form of impulse. Wave (( i )) was a leading diagonal which ended at 101.13, wave ((ii)) completed with a dip to 100.57 and wave (( iii )) was 1.618 ext of (( i )) which ended at 103.34. We […]

Preferred view suggests wave B completed 99.40 and rally from this level is  taking the form of impulse. Wave (( i )) was a leading diagonal which ended at 101.13, wave ((ii)) completed with a dip to 100.57 and wave (( iii )) was 1.618 ext of (( i )) which ended at 103.34. We […]

While above 20.78, expect more upside toward 22.20 region to complete wave 3 after which there should be a pull back in wave 4 and another leg higher. We don’t like selling Silver at this stage as the next expected pull back should be a corrective one.

Gold has been trading higher for the last few days as we have been expecting. We view the consolidation between 1.19.2014 (1262) – 2.7.2014 (1254) to be a bullish running triangle. Rally from 1252 is unfolding as a 7 swing structure when we are in 7th swing now. Near-term focus is on 1328 (equal legs) […]

Rally from 95.21 – 101.38 was in 5 swings as the chart shows with lack of momentum between the peaks at 100.46 and 101.38.  5 swing rally keeps Oil bullish against 95.21 low for at least 1 more leg to the upside. We are currently in wave B correction which can reach as low as […]