Commodity Market Elliott Wave Analysis: Bitcoin, Ethereum, Gold, Silver & More

[tradinglounge]

Commodity Market Elliott Wave Analysis Summary
- Dollar (DXY) Should continue to show weakness giving strength to AUD, GBP and EUR etc. 
TLT Bonds continue to move higher developing into an impulse wave structure.
- Bitcoin (BTC) Short futures contracts are keeping Bitcoin's price low, but Elliott Wave analysis suggests Wave (4) is at its low, with Waves 1 and 2 potentially forming.
- Ethereum (ETH) Trading below 3000, Ethereum shows weakness and could make a new low, while DOGE appears slightly more positive.
- Gold, GDX, and Silver: These assets are trending higher; continue holding long positions.
- Base Metals: Copper and Uranium are performing well, indicating strength in the sector.
- Crude Oil: Crude oil remains sluggish but XOM is showing upward movement.
- Natural Gas: The corrective Wave (2) rally is losing steam.

Video Chapters
00:00 Bitcoin (BTC)  Ether ETH/USD Dogecoin
07:17 US Dollar Index, DXY / TLT Bonds. US Gov Bonds 10 Yr Yields
14:11 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG 
21:36 Base Metals:Lithium, PLL, Uranium URA ETF / Copper / Nickel / Lithium
32:32 Energy:XOM / Crude Oil WTI OIL / Natural Gas NG 
41:08 End

Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817
Source: tradinglounge