Commodity market Elliott Wave analysis [Video]

Peter Mathers TradingLounge

Commodity Market Elliott Wave Analysis for Bitcoin, Bonds, Yields, USD/ DXY, Gold, Silver, Iron Ore, Copper, Uranium, Crude Oil, Natural Gas
Bitcoin: Anticipated target lies within the 58-60 range before an impending correction. The upward trajectory is displaying signs of softening, prompting short-term traders to elevate their stop-loss levels.

Bond Yields: The 10-year yields are poised to conclude wave v) of C of (B). This development is pivotal as it will uphold the strength of the Dollar DXY. Consequently, positions in gold or silver should be refrained from until yields and the Dollar reach their peaks.

China's Influence: An intriguing facet of the market landscape revolves around China. I've been meticulously observing a substantial Elliott Wave Triangle pattern dating back to 2008, which now seems to have reached its culmination. This event is forecasted to bolster base metal prices, particularly once the Dollar and yields reach their zeniths.

Crude Oil: Progressing steadily on its upward trajectory, crude oil is set for further ascension.

Natural Gas: The recent uptick in natural gas prices is construed as a corrective rally, indicative of an impending shorting opportunity in the near future.

Video chapters

00:00 Bitcoin (BTC)
07:41 US Dollar Index, DXY / TLT Bonds. US Gov Bonds 10 Yr Yields
12:58 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG
16:37 Base Metals: Iron Ore, Copper XCU/USD. Uranium URA ETF / China
24:07 Energy: Crude Oil WTIOIL / Natural Gas NG
27:57 End

Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817.

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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