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By tradinglounge · Posted
Natural Gas Mode - Larger degree bullish correction Structure - Impulse wave C (circled) of Flat Position - Wave (4) Direction - Wave (5) Details: No confirmation above 2.953 yet. Thus, we shouldn't write off wave (4) extending lower. A break above 2.953 will confirm wave (5) is in progress. Until then, wave (4) could reach close to 2.5. Since late February 2024, natural gas prices have rebounded over 70% after hitting their lowest level since mid-2020. The commodity appears poised to continue higher, potentially reaching new highs not seen since 2023. However, in the long term, this recovery could be part of a retracement of the bearish trend that began in October 2022, when prices were around $10. In the near term, the pullback from June 11, 2024, is not far from completion. After the pullback, prices should resume their upward trajectory, continuing the recovery from February 2024. Daily Chart Analysis On the daily chart, natural gas prices experienced a significant bearish impulse wave that started at $10.029 in August 2022 and completed at $1.944 in April 2023. Following a bearish impulse, a bullish correction typically ensues, and this is what the current price action represents. The emerging pattern appears to be an irregular flat correction. Wave A of this pattern concluded at $3.666, and wave B ended at $1.524. The price is now advancing in an impulse structure corresponding to wave C (circled) of the irregular flat correction. Wave C (circled) might terminate near the previous high of $3.666 or possibly breach it. The impulse structure that began at $1.524 is critical in determining the completion point of the corrective phase that started from $1.944. Currently, this impulse wave is undergoing a corrective phase in wave (4), which is expected to be a temporary setback before the resumption of the upward trend. H4 Chart Analysis On the H4 chart, the impulse wave C (circled) has completed the first three sub-waves, identified as waves (1), (2), and (3) of the intermediate degree. Wave (4) is now emerging downwards and is expected to form a zigzag structure. This corrective wave (4) has completed waves A and B, and wave C of (4) is currently unfolding downwards. The decline in wave C of (4) could continue to the $2.56 - $2.44 Fibonacci retracement zone before prices turn upward again. This anticipated upward movement will likely mark the beginning of wave (5), continuing the year-long bullish trend. If the price resumes its upward movement from the Fibonacci support zone, it could reach or even surpass the previous high of $3.666, confirming the continuation of the bullish trend initiated in February 2024. The completion of wave (5) should provide a clear signal that the corrective phase from April 2023 has ended, setting the stage for further gains in the commodity. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
Mocaverse, an NFT collection by Animoca Brands is been projected to strengthen the Web3 and metaverse-centric ecosystem. While assessing its chances to meet this goal, I believe these core features will be crucial. - Web3 Frequent Player Program: Mocaverse loyalty system is well structured, powered by Mocaverse loyalty points know as “Realm Points”. It allows users to earn and spend valuable points within the ecosystem. - Moca ID: A digital passport that grants users access to earning Realm Points and access to exclusive real-life benefits and incentives. - MocaList: A platform dedicated to overseeing token launch, backed by CoinList, exclusively for the Mocaverse participants. - Interoperable Meta Experience Layer: Mocaverse interoperability is another innovative feature, serving as an interoperable layer for Web3 identity, social interactions, and growth. Additionally, Mocaverse has secured the backing of high profile companies like Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, Dapper Labs, etc, and raised a total of US$31.88 million in funding from them. $MOCA the native token that powers the entire Moca Network, functioning as a utility and governance token within the network; soon its Premarket price will be revealed on Bitget as Spot listing nears. -
By tradinglounge · Posted
MCD Elliott Wave Analysis Trading Lounge Daily Chart, McDonald’s Corp., (MCD) Daily Chart MCD Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave 3 of (1). DIRECTION: Upside in wave 3. DETAILS: Looking for a potential bottom in Intermediate wave (C). Looking for a series of ones and twos before accelerating higher in wave three. MCD Elliott Wave Analysis Trading Lounge 4Hr Chart, McDonald’s Corp., (MCD) 4Hr Chart MCD Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {iii} of 3. DIRECTION: Upside in {iii}. DETAILS: Looking for an acceleration higher if we are in a third of a third. Volume seems to be suggesting a bullish scenario as well. This Elliott Wave analysis for McDonald’s Corp. (MCD), explores the current market structure and future potential movements based on Elliott Wave principles. We provide insights from both the daily and 4-hour charts to offer a detailed view of MCD's price action and anticipated trends. * MCD Elliott Wave Technical Analysis – Daily Chart* We are looking for a potential bottom in Intermediate wave (C) and a development of a series of smaller waves (ones and twos) before wave 3 accelerates higher. This sequence indicates that wave 3 should exhibit a strong bullish momentum as it progresses. The key area to watch is the base of wave (C), which provides a critical support level for the anticipated upward move in wave 3. * MCD Elliott Wave Technical Analysis – 4H Chart* We are expecting further acceleration higher if we are in the third wave of a third wave scenario. This implies strong bullish momentum and volume, which aligns with the wave count and suggests a continuation of the upward trend. Volume analysis supports this bullish outlook, indicating increased buying pressure that typically accompanies third waves, especially in the third wave of the sequence. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!
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