In a significant shift of Arab Saudi’s oil policy since 2008, on Wednesday Sept 24, the kingdom has reached an understanding together with other members of the oil cartel to cut oil’s output to reduce the world’s supply glut. This is in contrast to Arab Saudi’s persistent policy to flood the oil market in the last few years to wage […]

Short term Elliott wave count suggests that pullback to 42.55 at 9/20 ended wave X. The rally from there is unfolding as a zigzag where wave (a) ended at 46.52, wave (b) ended at 44.2, and wave (c) of ((w)) is proposed complete at 48.32. While bounces stay below there, expect the instrument to pullback in 3, 7, or […]

Short term Elliott wave count suggests that pullback to 42.74 at 9/16 ended wave X. The rally from there is unfolding as a double three where wave (w) FLAT ended at 46.52, wave (x) ended at 44.22 and wave (y) is in progress as a flat towards 48.1 – 48.9 area to complete wave ((w)) and […]

Silver rose to a new high of 2016 in the second quarter as a result of strong investor and speculative demand amid an environment macro support for precious metals. Overall this year silver has been a star performer. White metal ingots outshone well, marking an increase of 37 % compared to 22% increase in Gold. […]

Short term Elliott wave count suggests that decline to 386.6 ended wave ((w)). Rally from there is unfolding as a double three where wave (w) ended at 406.6 and wave (x) pullback ended at 396.6. Short term, while pullbacks stay above 402.6, and more importantly above 396.6, expect more upside towards 416.5 – 421.3 area to complete wave ((x)) […]

Short term Elliott wave count suggests that decline to 1302.33 on 9/1 low ended wave (W). Rally from there is unfolding as a triple three where wave ((w)) ended at 1315.23, wave ((x)) ended at 1304.5, wave ((y)) ended at 1330.2, and second wave ((x)) ended at 1315.7. While the metal stays above 1315.7 and more […]