Commodity Market Elliott Wave Analysis for Bitcoin, TLT Bonds, US 10 Yr. Yields, USD/ DXY, Gold, Silver, Iron Ore, Copper, Uranium, Crude Oil, Natural Gas
Elliott Wave Analysis Update for Commodity Markets: An overview of the current trends across various commodities and financial instruments, including Bitcoin, TLT Bonds, US 10-Year Yields, the USD Dollar Index (DXY), as well as gold, silver, iron ore, copper, uranium, crude oil, and natural gas.
Bitcoin is nearing the completion of its Wave 4 correction, with potential trading opportunities emerging at the confirmed support level of $65k. In the currency markets, the USD Dollar Index (DXY) is expected to rise, mirroring movements in 10-Year Yields, while bonds are anticipated to decline. This is particularly relevant in light of today's FOMC announcement, which foreign exchange traders should monitor closely.
In the precious metals sector, both gold and silver are finalizing their minor Wave 4 corrections, after which they are expected to ascend. The outlook for base metals is varied; iron ore is on a downward trajectory, whereas copper is showing signs of an uptrend, and uranium is undergoing a Wave 4 correction.
Regarding energy commodities, natural gas is experiencing a brief rally, though this trend is not expected to last, suggesting that shorting at new lows could be advisable. Conversely, WTI crude oil is on an upward path, continuing its positive momentum.
Video chapters
00:00 Bitcoin (BTC).
08:58 US Dollar Index, DXY / TLT Bonds. US Gov Bonds 10 Yr Yields.
15:28 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG.
18:56 Base Metals: Iron Ore, Copper XCU/USD. Uranium URA ETF/China /Nickel /Lithium.
21:40 Energy: Crude Oil WTIOIL / Natural Gas NG.
29:48 End.
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