We conducted a Free webinar on Friday, 13th January 2023 titled Commodities – What Is Next? in which in the beginning we explained various Elliott wave structures like Impulse and a nest and extensions. We also explained the cycles and market correlation (first and second dimensions) and then we looked across the market and explained US Dollar Index ending 5 waves up since 2008 low and we talked about an Index like FTSE showing incomplete bullish sequence since March 2020 low and about to trade into a new all time high. We also looked at XOM (Exxon Mobile) with a bullish sequence since the all-time lows. Keeping all this in mind, we believe an Indices dynamic and negative USDX dynamic will rule the market for the next few years and this also supports the idea that ETFs related to commodities will be supported and due to this commodities like Gold, Silver, Copper etc. will also be supported.
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