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By tradinglounge · Posted
Get the latest Commodity Market Elliott Wave Analysis: Bitcoin, Ethereum, Gold, Silver, Crude Oil, and more. Discover key insights on trends and market predictions with our expert technical analysis. Stay informed and ahead in your trading strategies. - Bitcoin (BTC): Expected to move lower to 55,000 in Wave C of (4) unless support develops at 63,000, in which case the low is already in place. - ETH/USD: Tracking closely with similar patterns. - GBTC: Mirroring Bitcoin's Elliott Wave patterns. - TLT Bonds & US 10 Yr. Yields**: Bonds moving higher, yields moving lower. - USD/DXY: Moving higher. - Gold, GDX, and Silver: In the final stages of Wave 4. GDX could have completed Wave 4. - Base Metals, Copper: In the final stages of Wave 4, potentially another low to come. - Uranium: In Wave (A) of 2. - Natural Gas: In Wave i) of 5. - Crude Oil: Completing an impulse wave, expected to hover around 80.00. Video Chapters 00:00 Bitcoin (BTC) Ether ETH/USD 18:57 US Dollar Index, DXY / TLT Bonds. US Gov Bonds 10 Yr Yields 28:09 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG 36:22 Base Metals: Uranium URA ETF / Copper 39:12 Energy: Crude Oil WTI OIL / Natural Gas NG 45:42 End -
By tradinglounge · Posted
Wheat Elliott Wave Analysis Function - Trend Mode - Trend Structure -Impulse wave Position - Wave A of (B) Direction - Wave A of (B) is still in play Details - Wheat daily and H4 have been adjusted due to how fast and deep decline from 720’4 has emerged. The long-term forecast on the daily chart shows that the surge to 720’4 is part of the impulse wave from March 2022. We are now in wave (5) which is expected to emerge into a 3-wave structure. Price now appears to be in wave A after which it will correct upside for B before returning downside. Overview: Since late May, grain prices have been falling sharply, with Wheat shedding over 20% since May 28th, 2024. This decline is about to erase the gains made from mid-April to late May. The nearly one-month sell-off adds to the long-term decline from March 2022, when Wheat traded at 1364’4. Currently trading at 571’4, Wheat is likely to fall further toward 500 in the coming weeks. Daily Chart Analysis: The decline from March 2022 is forming a bearish impulse wave structure in the primary degree. The 5th wave is completing a diagonal structure, which has been the most time-consuming among the actionary waves, lasting nearly 21 months. The price is currently in wave (5) of 5 (circled), which will likely evolve into a 3-wave structure targeting the 500 major psychological level. H4 Chart Analysis: The H4 chart shows the sub-waves of wave (5), which is now close to completing its first leg - wave A of (5). A corrective bounce is expected to follow for wave B before the price turns downside for wave C of (5) toward 500, provided the 720’4 pivot is not breached. Wheat and other grains are overwhelmingly bearish and may continue in this direction for the next several weeks before major bullish corrections begin. In conclusion, Wheat prices remain bearish with potential for further declines, targeting the 500 psychological level, contingent on the completion of the current corrective wave B and the subsequent wave C of (5). Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
Dear @Naren12166, Thank you for the post. Please note that we don't have a definite date but the product team is in the testing phase, a few countries should have Trading View soon. Thanks, KoketsoIG
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