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Commodity Markets: Bitcoin, Bonds, DXY, Gold, Silver, Iron Ore, Copper, Uranium, Oil, Gas. Elliott Wave


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Commodity Market Elliott Wave Analysis: Bitcoin has an Impulse wave up of its 40k low. Interestingly, this pattern is not confined to Bitcoin alone; similar tendencies are discernible in other cryptocurrencies like DOT and XRP. I intend to engage in a discussion with Kittiampon to delve into these developments further, exploring potential long positions within the crypto market on the up-and-coming Elliott wave abc corrective retracement.
Shifting our attention to the Forex market, the USD DXY is maintaining its elevated position. Nevertheless, noteworthy movements are underway, with the CAD and CHF exhibiting indications of a potential downside break, while the AUD and other currencies are showcasing an upward trend. That said, it is not confirmed that the USD / DXY will move lower.
Turning to Precious Metals, silver is manifesting signs of an impulse wave pushing it higher. I am contemplating taking advantage of a buying opportunity during the abc wave b correction. On the other hand, Gold presents a slightly different scenario, prompting me to explore potential entry points during its retracement.
Base Metals, there are unfolding developments suggestive of the later stages of an impulse wave higher for copper, while Iron Ore is still working through Wave B of an ABC corrective pattern before further upside and Uranium is being held at 30.00 dollars Major TradingLevel 3 (TL3)  My attention is directed towards identifying potential long trade setups during the retracement phase, with a particular emphasis on stocks such as BHP, RIO, FMG, VALE, among others.

Video Chapters
00:00 Bitcoin (BTC)
05:44 US Dollar Index, DXY 
07:25 TLT Bonds. US Gov Bonds 10 Yr Yields
10:38 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG 
13:57 Base Metals: Iron Ore, Copper XCU/USD. Uranium URA ETF
16:23 Energy: Crude Oil WTIOIL / Natural Gas NG
25:51 End

Analyst Peter Mathers TradingLounge™ 

 

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