Wave B has completed at @ 22.43 and metal is completing a 5 wave move from this level. A test of 25.03 could be seen before we get a corrective (( b )) wave pull back and higher again. We don’t like selling the metal into proposed wave (( b )) pull back as 1 […]

Metal has completed a cycle from 1270 and is showing a 3 wave decline from 1385. Therefore, as 1377 & more importantly 1385 holds, we expect another push lower in 3 waves toward 1328 to complete wave (( b )) before metal turns higher again. We don’t like selling the metal into proposed swing lower […]

Metal has completed a cycle from 1270 and is showing a 3 wave decline from 1385. Therefore, as 1385 holds, we expect another push lower in 3 waves toward 1328 to complete wave (( b )) before metal turns higher again. We don’t like selling the metal into proposed swing lower as the initial decline […]

Oil has bounced strongly after finding support @ equal legs (102.18) and shorter cycles are calling for further strength ahead as long as price is above 105.54 low. Short-term price action is taking the form of a triangle and is valid as price stays above 106.60 low Now you can try the best Elliott Wave […]

Metal is showing 5 swings up from 19.13 low which makes 20.06 the connector wave ( b ). Expect another push higher toward 21.55 (1.236 ext) to complete wave (( a )) before metal pulls back in wave (( b )) and trades higher again.

Expect some further strength to complete a double corrective structure for wave X before the metal turns lower again. There is strong confluence of resistance between 3.25 – 3.27 and ideally price should stay below 3.35 but only a break of 3.42 would negate this wave count.