Apple Inc. (AAPL) Stocks Elliott Wave Technical Analysis
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By tradinglounge · Posted
Coffee Elliott Wave Technical Analysis Function - Counter-Trend Mode - Correction Structure - Double zigzag for wave Y (circled). Position - Wave C of (W) Direction - Wave C is still in progress Details - The commodity still favors the upside to complete wave C of (W) toward 261.35-278.5 where another pullback may begin. The recent developments in the copper market suggest a continuation of the bullish trend that began in January 2023. Since resuming this bullish sequence on May 6, 2024, copper has closed every month from March 2024 in the green and appears set to do the same in July. The coming months could see copper prices surpass the February 2022 high, reaching levels not seen since September 2011. Long-Term Structure Analysis The long-term structure indicates that copper completed a bearish cycle between May 2011 and May 2019. The recovery starting from May 2019 could complete either an impulse wave or another corrective structure. Projections suggest that copper prices should reach $315, which is over 32% higher than the current price. The ongoing recovery saw its 1st and 2nd legs complete in May 2022 and February 2022 and January 2023, respectively, labeled as wave x-y of the cycle degree. The current leg is considered wave x of the cycle degree, with a target of $315. Daily Chart Analysis On the daily chart, it is observed that wave x (cycle degree) might complete a W-X-Y (circled) pattern of the primary degree. Waves W and X have already been completed, and the price is currently advancing in wave Y (circled). Wave Y could also develop into a three-wave structure, indicating that the price is presently in wave C of (W) of Y (circled). Wave C of (W) is evolving into an expanding diagonal structure, reflecting the bullish momentum. H4 Chart Analysis The H4 chart shows that wave C is nearing the completion of its 4th sub-wave. As long as support is maintained above 219.35, an extension higher to the 260-270 range is expected, completing wave (W) before the next pullback for wave (X) begins. This support level is crucial for maintaining the bullish outlook and achieving the projected targets. Summary In summary, the Elliott Wave analysis suggests that copper is in the midst of a robust bullish trend, with the potential to reach $315 in the near term. Key levels to watch include the support at 219.35 and the target range of 260-270 for the completion of wave (W). The long-term structure and current wave patterns indicate a continuation of the upward momentum, providing valuable insights for both short-term and long-term trading strategies. This analysis underscores the importance of closely monitoring wave structures and key price levels to anticipate future movements in the copper market. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
By IndependenceWay · Posted
(Noobie question) How do I invest long term (months, years) into natural gas? From my understanding, I can go long on NG1! futures with Schwab, but that's more for short term trading, (days / weeks). For holding the position for months (or even years), would I use the same method, or is there a better way? -
By tradinglounge · Posted
NVDA Elliott Wave Analysis Trading Lounge Daily Chart, NVIDIA Corp., (NVDA) Daily Chart NVDA Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: ZigZag POSITION: Intermediate wave (A). DIRECTION: Downside in wave 3. DETAILS: We are looking at either a significant top in place in wave (5), or else we could be continuing higher, after a clear three wave move to the downside, leaving us with one more leg lower to come before upside resumption. NVDA Elliott Wave Analysis Trading Lounge 4H Chart, NVIDIA Corp., (NVDA) 4H Chart NVDA Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: ZigZag POSITION: Wave 3 of (A). DIRECTION: Downside in wave 3. DETAILS: We can see what appears to be a five wave move into wave 3. Common wave 3 targets stands at 102$ with 1.618 wave 3 vs. 1 which seems to be confirmed by volume. Welcome to our latest Elliott Wave analysis for NVIDIA Corp. (NVDA). This analysis provides an in-depth look at NVIDIA's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on NVIDIA's market behavior. * NVDA Elliott Wave Technical Analysis – Daily Chart* The daily chart indicates that NVDA has either reached a significant top in wave (5) or is poised to continue higher following a corrective phase. The recent price action shows a clear three-wave move to the downside, suggesting that one more leg lower is likely before any potential upside resumption. Traders should monitor for signs of the completion of wave 3 within this corrective phase. * NVDA Elliott Wave Technical Analysis – 4H Chart* The 4-hour chart shows a five-wave move into wave 3, indicating a strong downward impulse. Common targets for wave 3 are around $102, supported by the 1.618 extension of wave 3 versus wave 1. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!
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