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$GLNCY : Glencore may be preparing for a big move

July 26, 2020 By EWF Helgi

Glencore plc is a British commodity trading and mining company. Marc Rich has founded the company 1974 which has its headquarters in Baar, Switzerland. Traded under tickers $GLEN at LSE and $GLNCY in US in form of ADRs, it is a component of the FTSE100 index. Glencore plc dominates the copper and zinc trading markets. Therefore, an investment in company shares can provide an exposure to the spot market prices of those metals. Besides that, company has crude oil, natural gas, coal and agriculture production facilities. After years of the prices depression in commodities, copper, crude oil and silver are already turning higher. As a consequence, natural gas and agricultural products may follow. Such a turn, without any doubt, will deliver a positive effect to the shareholders of mining and trading companies. Hereby, Glencore plc as a market leader should not become an exception.

Glencore Weekly Elliott Wave Analysis 07.26.2020

The weekly chart below shows the Glencore ADRs $GLNCY in the US. From the January 2016 lows at 1.938, the stock price has developed a cycle higher in wave I. Glencore has printed a top on January 2018 at 11.684. The cycle up is an impulse; blue wave (3) of black wave ((3)) shows a clear extension in price.

From the highs at 11.684, a correction lower has unfolded as a double three correction being a 3-3-3 structure. Black wave ((W)) is, hereby, a zigzag, ((X)) became an expanded flat structure, wave ((Y)) is another double three pattern of lower degree. The wave ((Y)) has reached an equality in length with the wave ((W)) at 3.952. As a consequence, price shows a reaction higher from the equal legs extension area 3.952-1.938. Since the $GLNCY price has broken the trendline higher, wave II showing 7 swings lower is preferred ended on March 2020 at 2.508. While above, Glencore can extend higher in wave III towards 11.684 and higher or do a 3 waves bounce at least.

Glencore 4H Elliott Wave Analysis 07.26.2020

The 4H chart below shows in more detail the advance higher from the March lows at 2.508. The cycle up remains still intact and might be currently in the wave 4 of (1). After a pullback in wave 4, expect another push higher in wave 5 to end the march cycle. Medium-term, a correction lower in wave (2) should find support above the March lows in 3, 7 or 11 swings. Then, an extension higher in wave (3) to new highs should follow or $GLNCY should produce another leg higher at least.

In overall, weekly but also 4H view on $GLNCY shows a correlation with copper prices. The march cycle is similar also to that in silver, oil and indices. All these instruments may be turning up and are expected to see more upside. Therefore, Glencore can be a smart investment for those who want take an advantage of rising prises in both stocks and commodities.

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Natural Gas ( $NG_F) Found Sellers After Elliott Wave Double Three

July 20, 2020 By EWF Vlada

Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of Natural Gas ( $NG_F) published in members area of the Elliottwave-Forecast . As our members know, Natural Gas recently made 5 waves down from the 1.924 high. The commodity corrected the short term cycle from the mentioned peak when recovery unfolded as Elliott Wave Double Three pattern. In further text we’re going to explain the forecast and Elliott Wave Pattern.

Before we take a look at the real market example, let’s explain Elliott Wave Double Three pattern.

Elliott Wave Double Three Pattern

Double three is the most important pattern in New Elliott Wave theory and probably the most common pattern in the market these days, also known as 7 swing structure.

It’s a very reliable pattern which is giving us good trading entries with clearly defined invalidation levels and target areas.
The picture below presents what Elliott Wave Double Three pattern looks like. It has (W),(X),(Y) labeling and 3,3,3 inner structure, which means all of these 3 legs are corrective sequences. Each (W) and (Y) are made of 3 swings , they’re having A,B,C structure in lower degree, or alternatively they could have W,X,Y labeling.

Natural Gas 1 Hour Elliott Wave Analysis 7.16.2020

Natural Gas ended short term cycle from the 1.924 peak as Leading Diagonal. Then we got recovery that unfolded as Elliott Wave double three pattern with inner labeling: (w)(x)(y) blue. Each leg of the pull back has corrective structure. At this moment we can count clear 7 swings down from the 07/14 low. Pull back is counted completed at 1.808 high. Now we would like to see further separation lower from the current high. We expect to see break of 07/14 low which will be confirmation next leg down is in progress.

You can learn more about Elliott Wave Double Three Patterns and Leading Diagonals at our Free Elliott Wave Educational Web Page.

Natural Gas 1 Hour Elliott Wave Analysis 7.16.2020

1.808 peak held nicely and we got further separation from that high. Eventually Natural Gas broke 07/14 low and made incomplete sequences in the cycle from the 1.924 peak. Now Natural Gas should ideally keep trading lower as far as pivot at 1.808 high holds.
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Natural Gas (NG_F) Continue To Resume Lower

June 29, 2020 By EWF Hardianto

In this blog, we are going to take a look at the Elliott Wave chart of Natural Gas (NG_F). In the previous article from May 13, 2020, we showed how Natural Gas reached the blue box area and turned lower from there. The 4 hour chart update below from May 14 shows that the commodity has ended the decline from the blue box at 1.595 low as 5 waves impulse Elliott Wave Structure. From there, 3 waves bounce is expected to take place before the decline lower can continue. While below 2.163 high, the bounce in 3,7, or 11 swings is expected to fail for more downside later.

Natural Gas (NG_F) 14 May 4 Hour Elliott Wave Update

The 4 hour chart update from June 28 shows that 3 waves bounce in wave (2) has already ended at 1.899 high. The bounce unfolded as a zig-zag Elliott Wave Structure. Down from 1.899 high, Natural Gas ended wave 1 at 1.742 low. Wave 2 bounce unfolded as a flat and ended at 1.833 high. Afterwards, the commodity resumed lower in wave 3, which is still in progress. The decline has already broken below previous wave (1) low. The commodity is now showing a lower low sequence. While below 1.899 high, expect the bounce in 3,7, or 11 swings to fail for more downside in the near term.

Natural Gas (NG_F) 28 June 4 Hour Elliott Wave Update

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Natural Gas (NG_F) Reacted Lower From Blue Boxes

May 13, 2020 By EWF Hardianto

In this blog, we are going to take a look at the Elliott Wave chart of Natural Gas (NG_F). The 4 hour chart update from 20 April shows that cycle from May 11, 2019 high ended at 1.519 low. The commodity then bounced higher as a double three. Up from 1.519 low, Natural Gas ended wave W at 1.918 high. The pullback in wave X ended at 1.555 low. The pair then pushed higher in wave Y. The 100% extension of wave W-X where wave Y can potentially end is at 1.957 – 2.206 area, shown with a blue box. The blue box area is the area where we expect sellers to appear for 3 waves pullback at least.

Natural Gas (NG_F) 4.20.2020 4 Hour Elliott Wave Update

The 4 hour chart update from 27 April below shows that Natural Gas ended wave Y within blue box area at 1.973 high. From there, the commodity extended lower and made the minimum 3 waves pullback. The decline has already reached the 50% retracement of the previous leg higher. This allows sellers from the blue box a risk free position by moving stop loss to break even level. While below 1.973 high, the bounce in 3,7 or 11 swings is expected to fail. Natural Gas still needs to break below the previous low at 1.519 to confirm that the next leg lower has started and avoid further double correction.

Natural Gas (NG_F) 4.27.2020 4 Hour Elliott Wave Update

April 30 4 hour update below shows that Natural Gas failed to break below the previous low. The commodity only managed to do 3 waves pullback from the blue box. Afterwards, it continued to bounce higher and broke above the previous high at 1.973. This suggests Natural Gas is doing a double correction and the count was adjusted with the connector wave W at 1.973 high and wave X at 1.586 low. The 100% extension where wave Y can potentially end is at 2.048-2.330 area, marked with another blue box. As long as the 1.618 extension at 2.330 stays intact, the blue box should provide another reaction lower for a minimum 3 waves pullback.

Natural Gas (NG_F) 4.30.2020 4 Hour Elliott Wave Update

The latest 4 hour chart update from May 12 below shows that the commodity reached the second blue box area. It ended wave Y at 2.163 high and subsequently turned lower from there. The decline has already reached the 50% retracement of the rally from wave X low, again allowing sellers from the blue box another risk free position. The commodity still needs to break below the previous 1.519 low to resume the downside.

Natural Gas (NG_F) 5.12.2020 4 Hour Elliott Wave Update

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EQT Corporation (NYSE: EQT) – Ending a Corrective Decline

September 5, 2019 By EWFAyoub

EQT Corporation is one of the largest natural gas exploration and pipeline companies in United State. The Energy giant has more than 130 years of experience and it continues to be a leader in the use of advanced horizontal drilling technology . It’s also an integrated energy company with emphasis on natural gas exploration, production, gathering, and transmission.

EQT stock movement is heavily correlated with Oil ( CL_F ) and Natural Gas ( NG_F ), as we’ll see in the coming chart that all 3 instrument are sharing the same cycle with same peaks in 2008 , 2014 and 2016. The only difference this time, is that EQT is adding another swing lower while the majority of Energy sector remains sideways waiting for it and other similar stocks to reach their targets before everything bounce higher at the same time.

EQT vs CL_F vs NG_F

If we count the swings starting from ATH in 2014 peak ( swings are different from Elliott wave count ), we notice that EQT is doing a larger 3 swing move lower (blue) that unfolds into 7 swings structure (purple) which has a target at equal legs area $8.68 – $0.41 area and expected to turn higher from there and produce at least a 3 waves bounce. The 7 swings count creates an Elliott Wave structure called Double Three which can be labeled in this case as (W) (X) (Y).

We can also notice that both cycle from 2014 peak and 2016 peak has a similar internal structure also divided into larger 3 swings (red) with internal 7 swings (black). Consequently, the entire decline taking place is considered as a correction which indicates that the stock will be looking for a reversal to take place after that cycle ends.

EQT Corporation Swings Count

EQT Corporation Elliott Wave Count

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Natural Gas Found Sellers At The Blue Box

August 25, 2019 By EWF Vlada

In this technical blog we’re going to take a quick look at the Elliott Wave charts of Natural Gas, published in members area of the website. As our members know, Natural Gas has incomplete bearish sequences in the cycle from the 2.493 (July 10th) peak. Consequently, we advised members to avoid buying the commodity and keep favoring the short side. We expected Natural Gas to keep on finding sellers in the sequences of 3,7,or 11 swings.

In further text we’re going to explain Elliott Wave Forecast and trading strategy.

Natural Gas 4 Hour Elliott Wave Analysis 8.13.2019

Decline from the July 10th peak unfolded as 5 waves structure- wave ((i)) black. Wave ((ii)) ended as Elliott Wave Zig Zag pattern and we got further decline. Break of 07/29 low made the Commodity bearish against the 08/01 peak . That break confirmed wave ((iii)) is already in progress. Cycle from the 2.493 peak is incomplete now, calling for further weakness. We don’t recommend buying the Commodity in proposed bounce and favor the short side.

Natural Gas 1 Hour Elliott Wave Analysis 8.14.2019

Natural Gas is correcting the short term cycle from the 2.334 peak.. As far as the mentioned pivot holds, we expect to see further weakness. Short term recovery looks incomplete at the moment. The price is missing another short term swing up toward 2.192-2.271 ( blue box- selling zone). As the main trend is bearish, we expect the commodity to find sellers at the blue box for a 3 wave pull back at least. As soon as the pull back reaches 50 Fibs against the last connector (x) blue low, we should make our short positions risk free.

Natural Gas 1 Hour Elliott Wave Analysis 8.14.2019

Eventually Natural Gas made proposed leg up and found sellers right at the blue box : 2.192-2.271. Wave (ii) recovery completed at 2.269 high. We got decline which has already reached 50 Fibs against the (x) blue connector. As a result members who took short trades are now enjoying profits with risk free positions. Now, as far as 2.269 pivot holds, we can get more downside as proposed on the chart. However, we need to see break below 08/05 low in order to confirm next leg down is in progress. Until that happens , double in wave ((ii)) might happen per alternative view.

Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Not every chart is Trading Signal. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.

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