Wednesday, November 25, 2015

Gold's bottom on summer 2016

Gold remains in a well establish bear market since early 2013. Looking at the big picture we believe that currently Gold is running the C leg of an ABC correction that started back in 2012.Specifically gold will probably soon complete the 3rd wave of C and then bounce temporarily before a final leg (5th wave of C) and a bottom at green zone at around 930$ during the 2Q or 3Q of 2016

 We believe that gold will bottom out on summer 2016 along with other major commodities and then a strong upleg will ensue.Hopefully this upleg will not coincide with WW3...

Wednesday, November 4, 2015

Energy stocks (XLE) about to bounce and head south

Energy stocks (XLE) recently showed some strength.Since its lows around 59-60$ (as we correctly predicted on early August Oil at crossroads )  on late August and and late September XLE is moving north. Currently XLE is approaching multiple resistance lines.

If we zoom out a bit and focus on the big picture we believe that XLE will move again towards its lows or even lower, finally reaching a bottom around 55$ on summer 2016.

Wednesday, October 28, 2015

Oil update: Approaching a short term reversal point

Oil is currently moving towards support zone at 40-41.8 as we predicted in a previous post(Oil is probably forming a diamond: Reversal or Continuation?).Today and tomorrow we expect a fast move towards this support zone and then a bounce towards resistance zone at 44-46$.
Keep always in mind the big picture

Monday, October 26, 2015

EURUSD: Bullish until late 2017? A long term Road-map

The big picture (monthly) chart of EURUSD is as follows:It is in a long-term downtrend.RSI has recently bounced of oversold territory.Probably we are at the end of wave 3 (or early stages of wave 4).Wave 4 should take us towards around 1.24 until late 2017.Then a last leg down and a bottom around:
A)0.8 on summer 2019(blue scenario)
B)0.95 early 2019 (black scenario)

Saturday, October 24, 2015

Nat Gas is returning to where it started (1.95$)

Natural gas is in a well established downtrend since early 2014.Historically Natural gas prices during the months from November to mid-February are weak

It took about 22 months for Natural gas to climb from 1.95 to almost 6.5 (2012-2014).If market obeys to some kind of symmetry then Nat gas will be at 1.95 around Christmas time where it should complete a five wave down movement.