Commodity: Bitcoin, ETH/USD, DXY, Gold, Silver, Uranium, Oil, Gas, Elliott Wave Strategies

Commodity: Bitcoin, ETH/USD, DXY, Gold, Silver, Uranium, Oil, Gas, Elliott Wave Strategies

welcome to trading lounge and the
Commodities report starting with Bitcoin
here it certainly looks like wave four
is been completed uh here uh for this
this would also be in line with the with
the NASDAQ and the S&P and tech stocks
such as Nvidia and so forth so there’s
there’s a high probability that um that
this low is in place now uh not all
markets are confirming that so if I go
to my little crypto index here which is
the top 10 and we’ve got the wave three
with the ABC here for wave four I’m
still missing wave four uh from wave
four down to wave five here
now I could um squeeze you know this is
one and two here and then one and two
and I could probably squeeze it in down
here somewhere but the the wave five but
I’m it I don’t like sort of forcing
things unless it’s like there’s no other
choice you know so I’ve been looking at
this as an a wave a b wve and 1 2 3 4 5
up here this way Blue Wave four here we
don’t really want overlapping wave one
here because then um it would sort of
breach um the rules so to speak um but
out of the three rules um The Wave four
quite often can um overlap W one and
still sort of uh be okay at that point
depending on the degree of structure of
course
um so I’ve been tracking this up as a 1
2 3 4 5 here but it does look like it
wants to sort of push up further here so
uh we’ll just see but it’s possible for
it to drop that’s all I’m saying at this
point but otherwise we’ll have to look
at it in there when we look at
ethereum see Bitcoin actually came down
and made a low below this one here this
particular structure here came down and
made that low here so we could wingle
that in as wave five when we have a look
at a the
uh it also has not made a new low here
as well
so uh in this case I’ve got the you know
the the a the wave three with the a the
B and the C wave here I was waiting for
it to possibly come down as well here
you know waiting for this 1 2 3 4 five
here and come down for wave five and
bring this wave five over here for that
um I can squish it into this particular
Point here then I’ll need to look at
this as wave one here
and then a wave two over here for for an
ABC coming back down this way so to
speak you know what I mean uh or
something of that nature um and have a
truncated oh no doesn’t know it could be
wave C here you know um but yeah um
still got a bit of movement to go before
it overlaps wave one but it is really
quite humongous you know what I mean
compared to wave two if I had if I had
this as wave two over here so basically
the crypto index and
ethereum don’t really have good cases
for lows being in place but at the same
time they are moving up here and what I
what what I’ve been working on all week
is looking at this is one and two and
three and four here then one and two and
three ABC for four and up for five so
basically above that top there and that
really gives gives a green light I’m
afraid you know because that would be
five waves as wave C there you know as
wave C and B here and so on so an ABC
here for wave four so anything above
that would be you know uh good to go at
that point would’ have to go with it you
know we couldn’t just keep continuing to
stare at it um and the Bitcoin situation
if we look at Bitcoin on these charts uh
here let me just find it this one here
so I’ve been doing the same here as well
so we’ve got the wave three here with
the a the B so we’ve got uh this is one
degree smaller but uh one two 1 2 3 4 5
the third wave I could look at this as
an A and A B wave to here and a c wve
here to have the wave four here and then
down for wave five so that kind of works
in a way and then I could look at this
as being um wave one to the upside here
and wave two and then building 1 2 3 4 5
for one and two here and building to the
upside um uh here to see how this goes
so one of the things here is the trading
levels so we’ve got 65 here which is a
medium level then we’ve got uh I call it
65 in this case it’s 66,500 so we’ve got
this this and this which is group two if
if you can look closely here what it’s
trying to do is it’s trying to find
support in here it’s trying to sit in
here but it hasn’t got it so far but if
it did then we could go with that so at
this stage we could go long above above
here because of it if like if it moved
up from here then it would have group
two support and if it’s got group two of
support it means it’s leaving this
number but while it’s not on this level
then it still belongs to this
number um an Kyon mentioned that um it’s
quite possible for this to be wave one
here with an A and A B wave here and
come down in five waves I think that he
mentioned here which is another good way
of looking at it as well uh here so
there’s a few ways to to look at all of
this but it does appear that the tech
stocks have got their lows in as wave
fours and the you know the S the the
NASDAQ and uh the S&P and all that’s uh
good to go here so if I look at the
NASDAQ here uh we’ve been looking at
wave three here with an A and A B and a
c for wave four here and looking at one
two yada yada yada and build starting to
build into long trade so we’ll look for
one and two so basically if this is
going to go now then we should see uh
this do much the same you know we can
sort of Chuck it in the tech stock
basket uh uh so to speak I know that’s
not really the correct thing to do but
um that’s okay for the time being but
anyway the main point here is that it’s
trying to establish support back on the
65 here so that within itself is a very
positive um aspect to all of this also
too I wanted to just take a uh side path
here for a
moment um I’m going to introduce a uh a
competition and um I’ll put up $1,000
I’ll try and find some sponsors and get
some real money into this
but um Al I’ll do that so I want to
basically run this for May okay so the
way that it works is that uh it’s it’s
free to play um and it finishes on the
last day of the month uh GMT time in the
UK um so when it finishes there um uh
this particular uh I’ve got this price
updating every 30 minutes at the moment
but when it gets closer to the end of
the month I’ll bring it in a bit bit
faster um but uh yeah so
basically it’s pretty easy to play
so um you’ll need your Gmail account for
this so This leaderboard is a Gmail
thing and this is just a little test
we’ve been doing here and uh you’ll need
need a Gmail account to to log
into okay and uh yeah so that way nobody
can uh sort of
well I guess because I just want people
to have one entry really you know so um
and you know when I go to pay it out um
when I go to pay the money
here um I’ll need your uh real name um
so put your real name in here and it’ll
have a Google account so this way you
know you can’t have multiple accounts
and and you can’t folks can’t have Bots
running and all those sort of things so
the rules of the game are all sort of uh
here all pretty sort of simple basically
just behave yourself and do the right
thing and all those sorts of things um
but basically what happens is that the
winner has to be the winner needs to get
within $10 of the closing
price now if you if there is no winner
then the money here will just
double the next uh well another in this
case another th000 so it’ll be $22,000
and then 3,000 but I’ll try to get this
up to 10 grand or something you know
I’ll ask I’ll ask around the brokering
traps to um see see what’s what um and
the other thing is too you can you can
uh once you have once you’ve made it’s
like I’ve put in a thing here just
testing here so I can change this price
up until the 20th of each month and then
for the last 10 days you can’t change it
so then we just have to see see who ends
up on the on the top okay so that’s that
so it’s just uh it’s just a game a bit
of fun and uh yeah I’ll try and get the
price money sort of lifted and if it
goes okay we’ll just continue to run it
that’s okay yeah it’s all good so anyway
I just that will start on in May on the
1 of May so I’ll update you more on on
all of
that okay so that’s all Bitcoin that’s
the Bitcoin side of things so now we’re
going to move over to the uh to the
dollar to the US dollar I’ll come back
to that one
so so what we’ve been looking at is uh
the US uh this is the yields here so
basically this is the same sort of
pattern as the as the US dollar so we
can expect this to continue to move
higher so in here we’ve got a little one
and two then 1 2 3 4 5 and third four so
we’re not really at this wave three yet
here and we don’t have this wave four
here so we’re approaching that now and
um and then we’ll have this wave three
up here for the yields and this wave
four here and then this wave five here
and so on at this point that’s what it
looks like at this stage um could it
fail um at this point in here it’s it’s
possible for it to fail I’ve got a a
bearish count but if the US dollar takes
its previous top out which I think I
might have it
here um let me just go to the 4our Chart
here I think I’ve got
that here so yeah this
is this is the bearish count so if I if
I look at this move up through to here
and then look at it as a b wve here and
going down for see I could look at this
as wave one here and then look at this
as an A and A B and A C wve going up for
wave two here so I’ve tried to sort of
Squish it in the best I can as 1 2 3 4 5
for 1 two so basically one and two here
and then one two three sort going up
here for this but if it takes the top
out of here just by even one point then
this count here is invalidated so it
would have to really all squash up into
here which is which is possible to have
this as an A and A B and A C of wave two
here it’s possible but otherwise we’re
going to be looking further up uh here
as three and four and moving up here
further and this will be the same um for
the if I go to the daily chart here I
think it
is for the more bullish count uh here so
this is the more bullish count here
where we have let me just fill the dots
in here again as one and two here and
this is one and two we haven’t really
got to the third wave yet so we haven’t
got to that third wave yet had either so
be four and five up here so this is kind
of a reasonable next step to take at
this point as an a wve a b-wave and the
c-wave up here for the B wve and then
down for
the down for the c-wave at that point so
here as an A and A B and A C wave so
this is a a reasonable way to look at it
but at the same time I’ve been looking
at
um let me start with I’ll just going to
I won’t this is our Elliot wave
algorithm chart here but this is also
um this chart here is uh whoops is is
this one here which is the the dollar
bullish Index Fund here and uh when I
have a look at this is a monthly chart
by the way so uh in 2008 there’s another
low coming in over here for this but I
won’t go into the count here just yet
for this but what I wanted to point out
here this monthly chart here is that
um this top here you know currently the
US dollar Index is is in around here
somewhere that’s where we’re looking at
here for this so if I come back to this
one here we H this is a this um we we’re
just talking about in here here but I’m
thinking that we may end up having a
bigger move up
here because in the bullish Index Fund
this top has been taken out here so if I
go back here this top here on the
monthly chart is being just been taken
out we’ve got all this movement up here
so far so if I just put this on the
weekly chart here for a
moment it presents in such a way that
um that this top is taken and I would
have to look at this because that top is
taken out now I’d have to look at this
as way one here and two here and then
one here and ABC for two and then
because this one here comes down and
overlaps wave one here I’d have to look
at this as one and two and one and two
and perhaps also one and two as well
here because it is quite sharp here and
then looking at this is one and two and
one and two here so as far as I can see
here is that this would need to move
move up further here for this
so this is yeah so this is really quite
a bullish sort of picture here so coming
back into this one here we just looked
at the uh the the uh US dollar uh index
bullish fund and it’s taken this top out
here so could this possibly move up here
because I was always a bit curious
really because when this move came down
here you see how the volume diminished
here this tells me that decreasing
volume is telling me that this is
corrective here
so I never really sort of um the volume
never really confirmed the price action
for me on all of this here so if we
start seeing increase volume which we
have done in the last month this uh in
April here starting seeing increase
volume in this then there might be a
case for this to to build even higher
here so I think that um we’ll talk about
this a little bit more but it’s was just
something that I noticed with the
bullish index fund and uh we’ll see how
this goes but in the meantime we can
expect this to uh continue to move
higher and we can expect the um the
bonds to uh to uh to move lower as well
uh here so just go on to the daily chart
here because I don’t always update
things very well a bit of a messy
Charter chartist as you
know so for the treasury bonds here it’s
quite possible we can look at this if
the yields are going to be going to the
upside and making a new high so if I
just go back to the yield for a moment
here these are the 10-year yields we
have to remember the two-year yields are
up at the five here anyway so if we
start looking at this as one and two one
and two one two one two here 1 2 3 4 5
the third here the fourth and the fifth
to get to here so it you know still
needs to build up higher and we’ll take
this top out in the two years are up
here so when we look at the bonds here
it’s quite possible that we make a you
know that we make a new low here we’ll
need to look at this as wave three and
four here and coming down for wave five
here so one and two and one and two and
one and two and 1 2 3 4 5 not even at
the third wave here yet and then
there’ll be the fourth wave in here and
then the fifth wave here of the third
then the fourth and yada yada yada so
that seems to be the pathway for this
now it’s still quite possible that we
could look at this as the a wve up here
and a b-wave here and a seawave here but
I don’t have any evidence of that so far
do you know and I can see that this even
this run here from one to here and then
1 2 3 4 five third you know this B wve
would have to be down at wave three here
which is really on the low here anyway
so it’ll be interesting to see how that
sort of plays out um at this point so
we’ll see
um anyway that’s uh that’s just uh that
so yeah so today I just wanted to have a
look at the uh just point out that the
bigger picture um for for the US dollar
um which brings in the the milkshake
Theory I guess um yeah so that okay so
let’s go over and have a look at uh uh
gold so I’m just going to look at GDX
first
so um it we were looking at GDX as one
and two and three and four and going up
for wave five here okay so that would
make wave one and two at that point so
uh you know wave fours always get a bit
sort of complicated so how far will wave
five go up here I don’t know if it’ll
reach that far or not you know um what
do we got over here oh we got this high
so that’s probably about it there then
isn’t it somewhere in amongst there 36
3650 is always a good little number to
work with that’s beginning beginning of
a little group two there but let’s just
bring it at maybe even can’t
there yeah
36
3650 and gr
3650 to 38
38 yeah so somewhere into 38 so it may
not reach the top there that’s what I
just checking on that so that will
probably get here somewhere I guess and
then we’ll see a wave two and then a
wave one and and a wave two so our
building Pro we’ve talked about having a
long trade here and that’s fine um but
um and we’ve got long trades in the
Futures Market on gold as well but this
is where you know once we get past once
this pattern here builds this is where
we’ll build into over here we might get
something here um and this may not pull
back as much in here of course so we
could get one in here and then then
build strongly in in here into this
third of third over here for for this
GDX so I mean if GDX is going to go in
this particular uh pattern then we can
expect you know gold to uh continue to
the uh to the upside as well so I’ll
just go into the gold chart uh
here and I think it’s good every now and
again to go back into the monthly chart
here just to have a look at things here
and and my accounts are a little bit
weird here as I’ve mentioned before
coming back to the today dot here as one
and two here cuz it’s pulled back a long
way you know 78.6 so it’s got to be it’s
got to be
um I remember all of this when I started
first started trading in 82 here um
so yeah I mean it’s pulled back quite
deeply uh in here for this so um would
have to look at it as one and two at
this point and then then from up going
up here as one and two here this is
where it becomes sort of interesting you
can see the upside potential here and
and obviously it kind of Suits the um
you know the debt environment in the
world as well so 1 2 3 4 five up here
for one and two here log scale and then
this current move that we’re in here as
one and two and three and four here
where most Elliot people agree on Wave
four here at least and uh and then we’re
in here as well one and two and one and
two in here so we’re going up for third
so we we’re going up but even even what
I wanted to point out here we got 1 2 3
four here so even when we get to wave
five up here to me this is just going to
be wave one of cycle degree here so this
will be one and two and this will be one
and two because I mean it could play out
as a stronger third wave but it but you
know this would that means I’d have to
look at this as one and two here as well
and I’m not sure I want to go there just
yet on that one
so so basically this is sort of where we
are in the bigger picture so um it’s
fluttering around here on these current
trend lines uh in here and the 25 here
is what we call a medium level in the
trading levels thing the trading levels
are simply the Fibonacci as a price
ratio over here so it’s just more of a
charting thing um but brings in the
psychology of things as well and
um yeah so that’s where we are on the
month three really here so we just you
know we’re just going one two and and
you have to say that’s a nice third wave
here isn’t it compared to wave one here
so if you’re long in you know I I
suggest being long in Gold stocks and
also banks are good at the moment um so
yeah just really matter of holding
really because we’re just going to go up
and you know at this at this uh medium
level here we’ll be at wave fours here
so we’re going to see patterns uh like
this coming into play here across that
uh
2,500 uh it’ll either be that or it’s
only it’s only really three patterns
that can occur it’s this one and this
one where it doesn’t fall back below the
level and then the third one is where it
doesn’t stop here and just continues to
go up and then falls back this is a
little bit rare um the most uh common
pattern is this one here but the thing
is if it reacts from here then know that
you’re going to get the rest of this
that’s the beauty of it you know and
this is normally wave three four and
five and some sort of ABC that could
pull back a bit deeper here as well uh
and this is where we exit and enter back
over here for this because sometimes
these Corrections can take you know
months and months and months so once you
sort of understand this then it’s makes
life a bit simpler so we’ll see how it
plays out we’ve got two two-way fours to
play out in in around this area
here uh that said we’ll just cut
straight through to we’ll just go to the
weekly because I might need to update
things a little bit oh no that’s okay so
we’ve got uh this wave four here and
we’re going up from wave four up to wave
five up here and we’ got five waves
within that so we’ve got one and two and
then there’ll be three four and five
here and um this can be counted in two
different ways here so I’m just still
monitoring that but
all that said this will be just a wave
four here and uh we’ll see um wave five
play out we’re in this little Way
Forward at the moment and we’ll see this
play out here in some some way or
another probably won’t come back to that
point but
um we’ll see we’ll get we’ll sort it all
out it’ll be something like this this
and this probably won’t come back that
far either or this is a wave four here
this is the first wave four so what we
could do here is we could um put in this
low here that way four here will be all
of these wave fors now normally you
expect them to come back to the 38.2%
retracement level or to the wave for one
less agree but they just tend to be sort
of up on each other a little bit in a
bullish market so it’ll probably
probably be something like this here so
we’ll see but we’ll definitely see some
sort of dance across that uh
20500 level there so um it’s good to
know that because then you can make
decisions you know you wouldn’t want to
be caught uh in it’s okay to have
leverage in in these sort of structures
but not when you get to wave fours
because you with the leverage you’ll be
not always unless you’re trading the
Futures contracts um but if you’re
trading cfds or other things other um
you’ll be paying for the financing of of
that and uh you’ll end up losing a lot
of money um holding through all of that
so I just suggest you know stock is
pretty
good um and then the daily chart uh here
let’s just see if I’ve updated that
[Music]
here it’s a little bit messy in there
let me just have a look at the my other
chart here for a moment that might be a
bit
better okay here’s the that correction
I’ll probably need to drop it down one
degree um but the a wave the B wve and
the C wve here I was looking at this
here and just trying to pull this apart
here to see if I had 1 2 3 four and five
here do you know what I mean so uh I
sort of came to the conclusion that if I
take this top here and this bottom here
roughly currently the 38.2% retracement
level is right here okay so where that
high is but this little move here looks
a bit impulsive so um what I wanted to
do here was to consider this
situation if we have another if we have
another high here on this is trading
levels talk now so we’ve got 2300 here
which is the top of minor group one of
2,000 so that’s very significant now the
next group one is one two and three here
so if we get support on this level here
then we’ll be leaving this number and
then we’ll be going up to the number
five at that point but if it doesn’t
find support here then and the number
two here becomes the retested resistance
then we’re going to be pulled back down
to this number here and we’ll need to
look at wave five being down here so
there may be one more move here at the
same time we have to prepare for the
upside as well because um I mean I
counted down here I’ve done a few
different counts in here but anyway you
can go back over that in your own time
but um what I’m talking about here is
looking for a long trade just in case so
let’s just assume for a moment that let
me just clear this up a bit let me just
look at this in terms of let’s just say
that this is um some sort of wave one up
here with an A and A B and A C coming
down here um and then it moves up here
it’ll be like
this so if you can get that here then
you can put that on the top here or you
can drop it down to the second High here
and that’s your long trade at that point
okay but we’ve got to we got to move
away from the possibility of this here
because when you look at this just first
up you would think that well you know
we’ve got a nice a-wave here A B wve
here you know it’s butt ugly and um and
then we’ve got one two you know I could
drag wave four into here and do all
those sort of things I know I know that
but this is 38.2% retracement level and
it’s a nice way forward and wave four
normally breaks the trend line anyway
and it’s done that so just be prepared
for one more move down here okay now I
won’t look at Silver because I’ve been
yaking too long but silver will be in
the same boat as well at this point okay
so we want to have a look at uh base
Metals
now I think I’ll start with the xme here
which is the metals and Mining uh index
as a bit of a change so we cover these
in the sector uh sector side of the uh
website um but the main point I wanted
to sort of point out here is that um
we’re in a bullish Trend here uh
whichever way you want to look at it you
know I mean the 65 here is a medium
level so medium level is always halfway
between two major levels and we should
see this play out in some sort of
corrective move across here this is a
weekly chart um but we’ve got 1 2 3 4
here and we’re going up into wave five
here so I’ll just go from weekly to uh
to daily uh here in this and you know
the stocks in this sector will be doing
much doing much the same so um 1 2 3 4 1
2 3 four five up here so we’ll see you
know we’ll see the we’ll be around here
for the 65 for quite some time but it
does give us that
um uh that that move there and uh
obviously in this particular sector as
well if we have a just have a quick look
here we’ve got these are the top 10 here
um in this market so um these will be
you know creating this particular uh
pattern so if they are of any interest
to you and um yeah so then we can go
over to we normally look at
um uranium so next so I’m just going to
go to Commodities uh here and look at uh
Ur here the ETF uh here uh on the
monthly here as well so I I mean I’ve
got this also is really quite bullish
here because I’ve got one and two and
three four five up here for an Impulse
wave and then an A and A B and A C here
and then one and two here and I’m also
looking I’m not bringing this in as wave
um three here because it’s just too too
small um but I’m looking at this here
being uh another wave one to the upside
here so that means that this will play
out in terms of um a wave four that
we’re in at the moment and then a wave
five here and then an ABC across here
and then pushing up again at that point
so I do see this um very uh
bullish um I’ll just go to the daily
chart and just pick it up from uh from
here so we’re looking at this here as
being the a wave the B wve and the C wve
to come down
here so at this stage um yeah so from B
down to see here so we still need
another little move down here as well to
finish this off here and come down into
these lows it’s possible that I could
put just speaking out loud here thinking
out loud we can put uh wave four over
here and then look at this is wave one
here with an ABC here if that’s the case
we need to be long above that top there
but we would drop that trigger down
further down here once we had the first
high above the uh the major level here
the 30 here so we don’t need to go there
yet let me just check on um cap here for
a moment this one of the larger Russian
ones here so I’ve noted this as being an
ABC pattern here so yeah so this is
probably one two three4 here so it’s
really not a lot to go down here
actually so away four and a away five
here and and then we could go to the
upside of that point you
know so I think when we’re close you
know we’re reasonably close for this and
it is a nice correction across this
level here as well not that we trade
this particular um market I’ll just have
a look at um sprock as well
so yeah so this is this was um this is
also got a case for having this as an A
and A B and A C here and then having
this as 1 2 3 4 five up here so the the
case for the impulse wave is also there
as well so I’m just keeping an eye on
both sides of it but I don’t see the
setup uh just yet in uh in these markets
and um the other side of all of this is
uh copper so with copper we’re seeing
that move up this is a monthly chart uh
here moving up quite strong which I
haven’t updated but I have been working
on my um
this chart here this uh ETF here the US
copper fund chart here and um yeah as
far as this uh this move here is
concerned obviously it’s going to come
into these old highs here so there’s
going to be Supply there and um I’m just
looking at this as more of a bullish
light here I mean we can look at it as a
top being in play here so I’m just
trying to squish this up here as you
know we could look at it as one and two
here and then one
one and
two and then in here as 1 2 3 4 5 here
I’m trying to make it as short as
possible and then that would leave me at
um up here and then a four here and then
a then a five up here for this so this
is where we could I could have this as
another particular top here and we could
come down at that point but um yeah oh I
mean really it’s I know that doesn’t
count very nicely as an Impulse wave
here I get it um but we may need to view
it like that and there’s a couple of
ways to to to view this here as we could
put wave two over here and then this
wave one over here and this wave two
over here to build a stronger picture to
to the upside uh here as well so I’m
mindful of that um we’ll just keep an
eye on BHP and a few of those guys um
for for all of this
um but our commodity analyst has got a
top coming in here but we’re going to
get some sort of top here anyway so
we’ll just have to work through that a
little bit so we’re not going to go long
we’re not going to go short we’re not
going to do anything we just going to um
observe that for the short time um I
won’t look at lithium and nickel today
um so we can move over to the to the
energy sector and uh let me just
just go
to us sectors here for a moment because
I want to have a look at the the energy
side here
so so with this Market the um The
XLE um us one um not sure what I’ve
got need that one
there um so we’ve got wave three
here with uh an A B C D and E over here
for this and then pushing up now the
interesting thing here is that I’m
tracking five waves up here which um XOM
is quite dominant in this particular
market and we’re looking for we may end
up getting an ABC here for this and then
going up here but my main point here is
that we’ll have 1 2 3 4 5 here so I’m
going to look at this as wave one here
and then ABC for wave two here you know
because if the dollar is going to go up
the US dollar then it’s highly likely
that this is you know going to continue
higher as well God forbid um the energy
side of things you know it has been a
bit of a Fear Factor in the uh uh in the
political scene um but yeah so a lot of
people would have a top in here for this
but I think that we could actually go
further up uh in all of this
here and this little pattern in here by
the way we’ll have a look at crude in a
moment um but this little pattern this
this trend here is really this trend
here from X um Exon Mobile here so we’re
looking at um one and two here and three
and four here so it is it’s possible for
this to to have a little wave four here
and then push up at this point but I am
seeing a little one two three does
overlap here a bit um but 1 2 3 4 five
uh I can look at this as an A and A B
and 1 two 3 4 in here and five here so
an an A and A B so it’s possible to go
here and this would be about the 50%
level here so we could probably go long
above this but this could be counted up
here as corrective as well so this you
know we could see this play out
something like this here and bring wave
four over here for this so if you do go
long here um the target would be the 130
and I mean we’re already long here with
a Target up there anyway but if you
wanted to add to that you might have to
hold for a dip this is the 38.2% so it
could come down to 115 uh here halfway
Mark’s always important between two two
large numbers so that’s um that’s
possible there but the thing is you know
if this is going to be this looks like a
wave three doesn’t it I mean really you
know and this is starting to be a wave
for so if this is correct this is going
to push up here so if this is going to p
push up here then you wouldd expect
crude to push up there wouldn’t you you
know so this is um crude here and I’ve
been looking at this here if the 80
became this is a cfd product so it’s
priced a bit differently but the $80
here if this $80 became the retested
resistance then I would uh look at the
bearish side if we had a low in place
and then the low got breached then I’ll
be on the bearish side but until that
happens I have to stay with the trend to
the upside and stay on on the right side
of the market being on the right side of
the market means finding the closest
largest number being on that side of it
you know I don’t have an Impulse wave
here just yet but um yeah I put I
wouldn’t want to be short put it that
way at this point you know um so anyway
um I’m thinking that we can still go
higher here for this and then we need to
look at uh natural gas so there a couple
of things here I haven’t quite got my
sort of head around it if I look at at
um if I look at this one here both NX so
this one here has and the cfds have
jumped here so I’m still looking at this
here as wave one and two here and then
all the way down for wave three here
with an A and A B and A C wave up here
for wave four and this would be a little
one two in here and a 3 four so it’s a
bit more of a dance to come in and this
is the 38.2% retracement level from this
high here now this other Market here the
NG here Market that’s got a slightly
different pattern where it hasn’t really
popped up above the $2 Mark so uh I
think this is the Henry herb one here
yeah so I’m not I’m not a full book
about these energy markets
um but here it looks like we’re getting
some sort of triangle pattern so I would
imagine that we need to come up here a
little bit further and then we can look
to to move down if we get this here here
then we can look for the short short
trade in in amongst here but we need
this to play out we need an Impulse wave
here and then a three wave move back and
then we could look a short under the B
wve and come down on this so yeah I
don’t know why one is above the $2 and
one’s not if somebody wants to explain
that would be that would be good um okay
uh that’s a long video but uh we got
through a little bit
uh Commodities is a big uh is a big wide
uh sector so there’s lots of different
things to talk about but um that’s that
for today thanks for tuning in cheers

Commodity Market Elliott Wave Analysis for Bitcoin, TLT Bonds, US 10 Yr. Yields, USD/ DXY, Gold, Silver, Copper, Uranium, Crude Oil, Natural Gas

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Commodity Market Elliott Wave Analysis Update: No Change in Wave counts. Bitcoin strengthens its case for having Wave (4) in place. Not so much with ETH. Dollar to continue higher with 10 yr. Yields.
Gold, silver, and Uranium are in their final stages of Wave 4 and we can start to look for long trade setups soon.
Natural Gas Wave e) of 4 Triangle. While Crude Oil is above 80.00 it remains bullish as does XOM, I also look at XLE and XME.

Video Chapters
00:00 Bitcoin (BTC) ETH/USD / Crypto Index
09:49 US Dollar Index, DXY / TLT Bonds. US Gov Bonds 10 Yr Yields
17:48 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG
28:49 Base Metals:Lithium, Uranium URA ETF / Copper / ETF XME
35:36 Energy: Crude Oil WTI OIL / Natural Gas NG / ETF XLE
41:31 End

Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence – AFSL 317817
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