Dollar index is moving as expected. On daily chart, wave 2 was completed yesterday and we seem to have started wave 3 up now. Within wave 3, we seem to have completed minor wave i and doing minor wave ii now. Minor wave ii could do 50% retracement or even 61.8% but I think it…
Monthly chart of Dixon Technologies looks super bullish from Elliott Wave perspective. Long term impulse wave that started around 400 in August 2019 ended in October 2021 after making an all time high at 6243. Since then, stock has been in correction mode and seem to have completed zigzag (abc) correction in June this year….
Update (19th September, 2022) – CAC seem to have completed wave 2 now and we seem to be in wave 3 down. Here is the latest chart. From recent swing high in August around 6608, CAC has fallen in 5 waves which means it could be either major wave 1 or a fresh impulse or…
Bitcoin is at a precarious position and trading near the previous major swing low around 17567. If this breaks then the next major support is around 11900/12000 zone. Wave wise, we’re in wave Z of complex correction and the level also coincides with size of wave Z if we take Z = W.
Dollar Index (DXY) has breached 110 level. Time to be super cautious for most asset classes, including stocks, commodities and cryptos. Rising dollar is bad for emerging markets, commodities. This could trigger a fresh downside rally in stocks, commodities and even cryptos. As you can see in chart, we are in wave 3 and by…
Here is daily chart of Ethereum. From the recent top made on 14th August, ETH has fallen in clear 5 waves which tell us that near term trend is down. We currently seem to be in corrective wave 2, though it might already be over since it has retraced 38.2% which is the minimum we…
This is weekly chart of Aluminium. It seems to be forming a large H&S (head and shoulder) pattern which looks super bearish, if the neckline is broken with good volumes and there is a follow through. Previous swing low around 2306 at neckline is already broken. If this H&S materialises then we’re looking at level…
Google has moved down from January 2022 top made at 151.55 in 5 wave impulse. It could be either wave 1 or A and now seem to have completed wave 2 or B. Either way, stock is starting wave 3/C down which could go to 82 or lower levels as per wave equality. From wave…
Among the big ones, Cosmos (ATOM) is one of the few cryptos that managed to give a monthly positive close for August. Most others including BTC, ETH, SOL et all, closed negative. Surprisingly, the other one that gave a positive close was SHIBAINU, though just barely. Seems like ATOM has higher relative strength. Typically, the higher the…
Trendline that worked as a support since September 2021 has now become resistance and the price was rejected from that level sharply. Whole down move from the top made in January this year looks like a complex correction (WXYXZ) and we seem to be in last leg (Z) of the correction. Question is how deep…