Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of Apple Inc ($AAPL). The rally from 12.11.2023 low at $191.42 unfolded as 5 waves. So, we expected the pullback to unfold in 3 swings and find buyers at 195.31 - 193.16. We will explain the structure & forecast below:

$AAPL 1H Elliott Wave Chart 12.17.2023:​

Here is the 1H Elliott Wave count from 12.17.2023. We expected the pullback to find buyers from the blue box area at red 4 in a 3 swing structure (ABC) at 195.31 - 193.16.

$AAPL 1H Elliott Wave Chart 12.20.2023:​

Here is the 1H update few days later, showing the bounce taking place as expected. The stock reacted higher after reaching the blue box area allowing longs to get a risk free position.
Source: https://elliottwave-forecast.com/stock-market/apple-aapl-found-buyers-blue-box-area/

 

[Elliottwave-Forecast]

Fisker Inc. is an US American automotive company. It is producing electric sport utility vehicles (SUVs) like Fisker Ocean, Pear, Ronin and Alaska. Founded 2016, headquartered in Los Angeles, California, US, it is a component of the Russel3000 index. Investors and traders can trade it under the ticker $FSR at NYSE,

Fisker Weekly Elliott Wave Analysis 01.02.2024​

The weekly chart below shows the Fisker shares $FSR traded at New York Stock Exchange. From the all-time lows, the stock price has developed a cycle higher in wave (I). It has printed the all-time highs in March 2021 at 31.96. From the 2020 highs, a correction lower in wave (II) is unfolding as an Elliott wave double three correction pattern being a 3-3-3 structure.

Firstly, 3 waves of red wave w have ended in May 2021 at 9.61 lows. Secondly, a bounce in 3 swings as red wave x has set a connector in November 2021 at 23.75 highs. Currently, final swing lower in red wave y is in progress. As a matter of fact, break of 9.61 lows has opened a bearish sequence. As long as price holds below 23.75, it can reach deeper towards weekly support area. Investors and traders can be looking to buy $FSR from 1.31-0.00 area. There, blue wave (II) should find its bottom and next bullish cycle in blue wave (III) should start. The target for blue wave (III) will be 31.96 and higher in the long run.



Source: https://elliottwave-forecast.com/stock-market/weekly-buying-opportunity-fisker/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of XLV. We presented to members at the elliottwave-forecast. In which, the rally from 27 October 2023 low unfolded as an impulse structure. And showed a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the $XLV & buy the dips in 3, 7, or 11 swings. We will explain the structure & forecast below:

XLV 4-Hour Elliott Wave Chart From 12.20.2023​

Here’s the 4-hour Elliott wave chart from the 12/20/2023 update. In which, the cycle from the 11/10/2023 low ended in wave (3) as an impulse structure at $136.77 high. Down from there, the ETF made a pullback in wave (4) to correct that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave A at $133.43 low. Wave B ended at $134.86 high and wave C managed to reach the equal legs area of A-B at $131.52- $129.46. From there, buyers were expected to appear looking for the next leg higher or for a 3-wave bounce minimum.

XLV Latest 4-Hour Elliott Wave Chart From 1.02.2024​

Above is the Latest Elliott wave Chart from the 1/02/2024 update. In which the XLV is showing a reaction higher taking place from the equal legs area. Right after ending the zigzag correction. Allowed members to create a risk-free position shortly after taking a long position. Since then the ETF has managed to make a new high above $136.77 confirming the next extension higher.

Source: https://elliottwave-forecast.com/stock-market/xlv-making-strong-reaction-higher/

 

[Elliottwave-Forecast]

Cameco Corporation, headquartered in Saskatoon, is a key player in uranium production. It operates major mines globally. As a significant contributor to the nuclear energy sector, the company's success is influenced by uranium prices and regulatory dynamics. Below we provide an Elliott Wave technical update for the stock.

Cameco ($CCJ) Monthly Elliott Wave Chart​

Monthly Elliott Wave Chart of Cameco shows that the stock ended all-time super cycle correction in wave (II) at 5.30. From there, the stock ahs started a new bullish cycle which should continue to see further rally in years to come, including 2024. Wave (III) is currently in progress as an impulsive structure. Up from wave (II), wave ((1)) ended at 28.49 and pullback in wave ((2)) ended at 18.03. The stock has resumed higher in wave ((3)) and nesting. As far as pivot on 3.1.2023 low at 5.3 stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

$CCJ Daily Elliott Wave Chart​

Daily Elliott Wave Chart of Cameco (CCJ) shows that wave ((3)) remains in progress with internal subdivision as an impulse. Up from wave ((2)), wave (1) ended at 32.49 and wave (2) ended at 20.02. Stock then resumed higher in a nest. Up from wave (2), wave 1 ended at 31.29 and pullback in wave 2 ended at 21.02. Wave 3 higher ended at 46.95. Pullback in wave 4 is now in progress before stock resumes the rally higher. Near term, as far as pivot at 18.18 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

Source: https://elliottwave-forecast.com/stock-market/cameco-ccj-continue-bullish-trend-2024/

 

[Elliottwave-Forecast]

AT&T Inc. (T) is an American multinational telecommunications holding company headquartered in Dallas, Texas. It is the world's largest telecommunications company by revenue and the third-largest provider of mobile telephone services in the U.S.

T Weekly Chart Septembre 2023



On the weekly chart of T, we saw in more details the structure of the wave (y). Wave a in red made a leading diagonal that ended at $20.21. Then it bounced in 3 waves ending wave b at $29.96 to continue sharply lower. Wave c took the form of an ending diagonal. Down from wave b in lesser degree, wave ((1)) ended at $19.60 low. Wave ((2)) made 3 swings up to complete at $25.57 high. Another 3 swings lower ended at $14.46 as wave ((3)) and strong rally made wave ((4)). The rally entered in wave ((1)) zone giving the ending diagonal Elliott structure, completing wave ((4)) at $21.53 high.

T Weekly Chart January 2024

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On January weekly chart, we can see the structure needs 3 waves lower to end wave ((5)). Wave (A) of ((5)) has ended at $13.43 and wave (B) started. Therefore, we expect to see a bounce higher in 3, 7 or 11 swings without breaking $21.53 wave ((4)) high to complete wave (B) before resuming lower in wave (C). Wave (B) still remains bullish to end the corrective structure. It could end in 17.82 - 19.00 area. To confirm the view, the stock have to break $13.43 low. In that case, we can calculate the possible area where wave ((5)) could end and also the whole correction of wave ((II)) to look for buying opportunities.

Source: https://elliottwave-forecast.com/stock-market/t-expected-complete-bearish-sequence/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of Dow Futures ($YM_F ) published in members area of the website. As our members know YM_F we see cycle from the 32406 low completed at the 38115 peak. While below that level, we could be getting a deeper correction. Recently, the futures reached the intraday equal legs from the 38115 peak and made 3 waves bounce as expected. In further text we’re going to explain the Elliott Wave pattern and forecast.

Dow YM_F Elliott Wave h1 Chart 01.05.2023​

Cycle from the 38115 peak looks incomplete at the moment. The futures shows lower low sequences, suggesting more short term weakness toward 37534-37427 area. At the marked zone we can be ending first leg W red as potential Double Three pattern. From that zone we expect to see 3 waves bounce before more weakness is seen in Y red leg.

You can learn more about Elliott Wave Double Three Patterns at our Free Elliott Wave Educational Web Page.

Dow YM_F Elliott Wave h1 Chart 01.08.2023​

Dow Futures made decline and the price reached extreme zone from the peak at 37534-37427 . We got nice bounce against the 38115 peak, after which the price turned lower again and made break toward new lows as expected. At the moment the price structure from the 38115 peak is incomplete again, suggesting more weakness ideally in near term. Next tech zone to the downside comes at 37287 area.

Keep in mind not every chart is trading recommendation. You can check most recent charts and new trading setups in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.



Source: https://elliottwave-forecast.com/stock-market/dow-futures-ym_f-elliott-wave/

 

[Elliottwave-Forecast]

Abercrombie & Fitch Co., (ANF) operates as a specialty retailer in the United States, Europe, Middle East, Asia & Asia-Pacific & Internationally. The company operates though two segments, Hollister & Abercrombie, which operates through its stores, various wholesale, franchise, licensing arrangements & e-commerce platforms. It comes under “Consumer Cyclical” sector under Apparel Retail & trades at NYSE as “ANF” ticker.

ANF is trading at all time high since 1996 & expect upside in short term impulse against May-2023 low. It favors upside in (3) of ((3)) of III & remain supported in 3, 7 or 11 swings pullback at extreme areas.

ANF - Elliott Wave Latest Daily View: ​

It placed ((I)) at $85.77 high in October-2007 & ((II)) ended at $7.42 low in March-2020 low. Above there, it favors upside in ((III)) as it broke above ((I)) high. It placed (II) of ((III)) at $14.02 low in September-2022 low & favors upside in (III), which expects further upside to continue.

It placed I of (III) at $31.69 high & II at $21.73 low as 0.618 Fibonacci retracement. Later, it resumes higher as extended wave with nesting in 3 of (3) of ((3)) of III. Within III red, it placed ((1)) at $38.20 high & ((2)) as shallow pullback at $33.38 low. Within ((3)), it placed (1) at $55.52 high & (2) at $49.24 low. The pullback within the sequence are of almost having equal frequency with shallow correction, which indicates the nesting in progress.

Currently, it favors upside in ((iii)) of 3 of (3), while placed 2 at $57.78 low & ((ii)) at $65.60 low & expects short term upside, which soon correct lower in ((iv)) of 3. It expects to remain supported in 3, 7 or 11 swings pullback at extreme areas to resumes upside & extend ((3)) of III of (III) sequence.

Source: https://elliottwave-forecast.com/stock-market/will-anf-provide-buying-opportunity/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of META stock published in members area of the website. As our members know, META is showing incomplete bullish impulsive sequences in the cycle from the 279.39 low. Our team recommended members to avoid selling , while keep favoring the long side. Recently we got a pull back that reached our buying zone. The stock found buyers and made reaction from the blue box as expected. In the further text we are going to explain the Elliott Wave Forecast and trading strategy.

META Elliott Wave 1 Hour Chart 01.02.2024​

The stock is giving us wave (4) pull back that is unfolding as Double Three pattern. Pull back looks incomplete at the moment. The price structure shows lower low sequences from the peak, suggesting further extension down toward blue box area. We expect buyers to appear at 345.12-338.84 for further rally or 3 waves bounce at least. We don’t recommend selling Meta stock against the main bullish trend. Strategy is buying the dips at the marked extrme zone : 345.12-338.84 . Once bounce reaches 50 Fibs against the X red high , we will make long position risk free ( put SL at BE) and take partial profits. Invalidation for the long trades is break of 1.618 fib ext : 338.84

Quick reminder:

Our charts are easy to trade and understand:
Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.

You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

META Elliott Wave 1 Hour Chart 01.10.2024​

META stock found buyers at the blue box as expected and we got good reaction from there. Pull back completed at the Blue Box area as Elliott Wave Double Three Pattern. Bounce already reached and exceeded 50 fibs against the X red connector which confirms cycle from the peak is done. Consequently, any long positions from the equal legs area should be risk free by now. We count pull back completed at the 340.05 low, but would like to see break above (3) blue peak to confirm. As far as the price holds pivot at 340.05 low, we can see further strength in the stock, targeting 367.21-375.73 area.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.



Source: https://elliottwave-forecast.com/trading/meta-elliott-wave-buying-dips-blue-box/

 

[Elliottwave-Forecast]

Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of Exxon Mobil Corp ($XOM). The rally from 12.12.2023 low at $97.47 unfolded as 5 waves impulse. So, we expected the pullback, once that cycle ended, to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:

$XOM 1H Elliott Wave Chart 12.29.2023:​

Here is the 1H Elliott Wave count from 12.12.2023. We expected the pullback to find buyers at Blue (B) in a 3 swing structure (ABC) at 100.22 - 98.49.

$XOM 1H Elliott Wave Chart 1.03.2024:​

Here is the 1H update from 1.03.2024 showing the bounce taking place as expected. The stock reacted higher after reaching the extreme area allowing longs to get into a risk free position.
Source: https://elliottwave-forecast.com/video-blog/exxon-mobil-corp-xom-found-buyers-extreme-area/

 

[Elliottwave-Forecast]

Crowdstrike Holdings, Inc. is an US American cybersecurity technology company. It provides cloud workload and endpoint security, threat intelligence, and cyberattack response services. Founded 2011 and headquartered in Austin, Texas, U.S., it is a part of the NASDAQ-100 index. One can trade Crowdstrike under the ticker $CRWD at NASDAQ.

Crowdstrike Weekly Elliott Wave Analysis 1.10.2024​

The weekly chart below shows the Crowdstrike shares $CRWD traded at NASDAQ. From the lows, the stock price has developed an initial cycle higher in blue wave (I) of super cycle degree towards $298.48 highs in November 2021. Hereby, red wave III shows an extension beyond 2.0x as related to the initial wave I. After the impulsive structure higher, a correction lower in blue wave (II) has unfolded as an Elliott wave double three pattern being 3-3-3 structure.

Firstly, red wave w of blue wave (II) has printed a low at $150.02 in January 2022. Then, a bounce has set a connector wave x at $242 lower highs in April 2022. Later on, the price has broken $150.02 lows opening up a bearish sequence. Consequently, the target area for red wave y is 94.08-2.44 range. It has been reached and the reaction out the area has started.

It is the preferred view, that blue wave (II) has bottomed in January 2023. While above $92.25, a new bullish cycle in blue wave (III) might have started. Break of the $298.48 highs will confirm that. The target for blue wave (III) is 391-575 area and even higher. Currently, we see red wave I in progress. Within it, black wave ((3)) is within an extension relatively to black wave ((1)). Indeed, it has surpassed 1.618x of the wave ((1)). Short-term, next targets are $290.30 (2.0x) and $336.57 (2.618x). Once ended, expect black waves ((4))-((5)) to accomplish impulsive structure within wave I.

Firstly, investors and traders should be waiting for red wave I to end. Then, they can be looking to buy $CRWD in a pullback as red wave II in 3, 7 swings against $92.25 lows for an acceleration higher in red wave III of blue wave (III).



Source: https://elliottwave-forecast.com/stock-market/crowdstrike-weekly-reaction/

 

[Elliottwave-Forecast]

Southern Copper Corporation (SCCO) engages in mining, exploration, smelting, refining & processing of Copper, Molybdenum, Zinc, Silver, Gold & Lead in Peru, Mexico, Argentina, Ecuador & Chile. The company is based in Phoenix, Arizona, US, comes under Basic Materials Sector & trades as “SCCO” ticker at NYSE.

As shown in previous article, SCCO extends higher & confirms higher high sequence above I high of $83.15. It appears ended ((1)) of III at $88.40 high & favors pullback in ((2)) in 3, 7 or 11 swings correction.

SCCO - Elliott Wave Weekly View From 8.07.2023: ​

It placed I at $83.15 high & II at $42.42 low as flat correction in weekly sequence. Above there, it reacts higher in (1) of ((1)) ended at $82.05 & (2) at $64.66 low as more than 0.382 Fibonacci retracement. Within (1), it placed 1 at $49.41 high, 2 at $45.17 low, 3 as extended move at $78.76 high, 4 at $66.47 low & finally 5 as (1) at $82.05 high. It ended (3) at $87.59 high, which broke above I high & (4) at $68.93 low as dip pullback.

SCCO - Elliott Wave Latest Weekly View: ​

It favored ended (5) at $88.40 high as (1) as diagonal as high came with momentum divergence. It appears in (A) of ((2)) pullback in which it can bounce in 2 red of (A). Later, it expect to turn lower in 3 of (A). It expects pullback in ((2)) in 3, 7 or 11 swings against II low before resumes higher in ((3)) of III. Short term new high can be still the part of ((1)) before correcting in ((2)). Alternatively, if it breaks above $88.40 high & erase the momentum divergence, then it can be the part of nest within III, which may extend higher.

Source: https://elliottwave-forecast.com/stock-market/scco-favors-corrective-pullback-remain-supported/

 

[Elliottwave-Forecast]

Home Depot (HD), is an American multinational home improvement retail corporation that sells tools, construction products, appliances, and services, including fuel and transportation rentals. Home Depot is the largest home improvement retailer in the United States.

After reaching all-time highs in December 2021, the price of HD fell considerably. According to the Elliott Wave Principle, the stock price should continue to fall after to end wave (b) pullback. Wave (b) entered in a double or a flat correction and we are going to talk about next.

Home Depot HD Monthly Chart January 2024​

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Since December 2021 high, the price of HD has remained bearish and to complete a corrective structure it should continue with more decline. This is because, to finish a corrective structure is required a minimum of 3 waves where the third wave must break the end of the first wave at least marginally. Suggesting further drops in HD price in wave (c). Last time after 3 swings higher from wave (a) low, we called that wave (b) correction was completed. However, price action broke above 347.25, what we talked about last September as a possibility, making that HD enters in a incomplete bullish sequence. Wave (b) now, needs to end a new structure before resuming to the downside from 357.52 - 409.08 blue box area.

Home Depot HD Daily Chart January 2024​

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In Daily chart, we can watch closer what is happening with HD price. As 347.25 high was broken, the stock enters in a double correction structure. From wave (a) low, market made 3 swings higher ending wave "w" at 347.25 high. Then, we have 3 swings lower as a zig zag correction to end wave "x" at 274.20 low. As price action stays above 274.20 low, we expect to see 3 swings more to the upside to finish wave "y" of ((b)) before turning lower in wave (c).

Home Depot HD Daily Chart Alternative January 2024​

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As alternative view, we are showing the chart above. This should happen if wave (b) is a flat correction 3-3-5. From wave (a) low, market made 3 swings higher ending wave "a" at 347.25 high. Then, we have 3 swings lower as a zig zag correction to end wave "b" at 274.20 low. Now, the stock should be near to end impulse as wave "c" and also (b) to continue to the downside in wave (c).

Checking both daily charts, we are expecting a movement lower and actually we do not know what form will take. If the pullback makes 3 or 7 swings lower, it is more likely that wave (b) will make double correction higher. If the drop shows an impulse lower then the probability that wave (c) lower has started is high.

Source: https://elliottwave-forecast.com/stock-market/hd-home-depot-selling-opportunities/

 

[Elliottwave-Forecast]

GDXJ is an ETF tracking small-cap gold and precious metals mining companies. It has a focus on smaller, more volatile firms. Thus it offers exposure to this precious metal sectors, but investors should be cautious of increased risk. In this article, we will update the Elliott Wave outlook for the ETF.

GDXJ Daily Elliott Wave View​

Daily Elliott Wave Chart of GDXJ above shows the ETF ended wave II at 25.96. Wave III is in progress as an impulsive structure. Wave ((1)) of 3 ended at 41.16 and wave ((2)) of 3 ended at 30.46. The ETF then resumed higher and created a nest. Up from wave ((2)), wave (1) ended at 39.82 and wave (2) pullback ended at 34.59. The ETF has resumed higher again in wave (3) of ((3)). As far as pivot at 26.13 low stays intact, expect the ETF to extend higher.

GDXJ 4 Hour Elliott Wave View​

4 Hour Elliott Wave view of GDXJ above shows that the ETF may have ended wave (2) of ((3)) correction at 34.59. Near term, while it stays above there, and more importantly above 30.51, expect the ETF to extend higher. However, it still needs to break above wave (1) at 39.82 to rule out any double correction.

Source: https://elliottwave-forecast.com/stock-market/gdxj-should_extend-higher-in-2024/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of Euro Stoxx (SX5E) published in members area of the website. As our members know Euro Stoxx has recently made recovery against the 4593.6 peak that has unfolded as Elliott Wave Double Three Pattern. It made clear 7 swings from the lows and completed correction. We are getting nice decline as expected. In further text we’re going to explain the Elliott Wave pattern.

Before we take a look at the real market example, let’s explain Elliott Wave Double Three pattern.

Elliott Wave Double Three Pattern

Double three is the common pattern in the market , also known as 7 swing structure. It’s a reliable pattern which is giving us good trading entries with clearly defined invalidation levels.
The picture below presents what Elliott Wave Double Three pattern looks like. It has (W),(X),(Y) labeling and 3,3,3 inner structure, which means all of these 3 legs are corrective sequences. Each (W) and (Y) are made of 3 swings , they’re having A,B,C structure in lower degree, or alternatively they can have W,X,Y labeling.

Euro Stoxx 1 Hour Elliott Wave Analysis 01.10.2024​

Current view suggests Euro Stoxx is trading within the cycle from the 4593.6 high. The index is currently giving us wave ((iv)) black recovery that is unfolding as Elliott Wave Double Three Pattern. Correction has (w)(x)(y) blue inner labeling. At the moment we can count 5 swings from the low, when another leg up would be ideal to complete 7 swings pattern. We expect to see another high in wave c of (y) toward approximately 4516.6 area. Once bounce completes 7 swing structure from the lows, we should ideally see another leg down.

You can learn more about Elliott Wave Double Three Patterns at our Free Elliott Wave Educational Web Page.

Euro Stoxx 1 Hour Elliott Wave Analysis 01.16.2024​

Euro Stoxx index made proposed leg up and complete 7 swings structure. It missed to reach proposed target at 4516.6 area and completed early at 4510 high. The index found sellers as expected and made break toward new lows. Euro Stoxx should ideally remain bearish in near term as far as pivot at 4510 high holds.

Keep in mind not every chart is trading recommendation. You can check most recent charts and new trading setups in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.





Soiurce: https://elliottwave-forecast.com/elliottwave/euro-stoxx-sx5e-elliott-wave-double-three-pattern/

 

[Elliottwave-Forecast]

Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of American Airlines Group Inc. ($AAL). The rally from 1.03.2024 low at $12.89 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:

Zigzag (ABC) Corrective Structure​

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$AAL 1H Elliott Wave Chart 1.10.2024:​

Here is the 1H Elliott Wave count from 1.10.2024. We expected the pullback to find buyers against 1.03.2024 low at $12.89 in a 3 swing structure (ABC).

$AAL 1H Elliott Wave Chart 1.11.2024:​

Here is the next day 1H update, showing the bounce taking place as expected. The stock reacted higher after doing a Zigzag correction allowing longs to get a risk free position.
Source: https://elliottwave-forecast.com/st...nes-aal-found-buyers-after-a-zigzag-pullback/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of Natural Gas ticker symbol: $NG_F. In which, the rally from the 29 March 2023 low unfolded in an impulse sequence & provided an extreme trading opportunity. In this case, the pullback managed to reach the equal legs area & provided a buying opportunity. So, we advised members not to sell it but to buy the equal legs area for a minimum reaction higher to happen. We will explain the structure & forecast below:

Natural Gas 4-hour Elliott Wave Chart From 12.03.2023​

Here’s the Elliott wave Chart from the 12/03/2023 weekend update. In which, rally to $3.630 high ended the wave (1) & made a pullback in wave (2). The internals of that pullback unfolded as Elliott wave zigzag structure where wave A ended at $2.989 low. A bounce to $3.275 high ended wave B bounce. Then started the next leg lower in wave C towards $2.637- $2.485 equal legs area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

Natural Gas 4-hour Elliott Wave Chart From 1.07.2024​

Above is the Elliott wave Chart from the 1/07/2024 Weekend update. The Natural Gas is showing a reaction higher taking place from the equal legs area. Right after ending the zigzag correction. Allowed members to create a risk-free position shortly after taking a long position. However, a break above $3.630 high is yet to be seen to confirm the next extension higher & avoid a double correction lower.

Source: https://elliottwave-forecast.com/commodities/natural-gas-perfect-reaction-higher-extreme-area/

 

[Elliottwave-Forecast]

Bitcoin (BTCUSD) has been rallying strongly since September 2023 low. It rallied from a low of $24920 to a high of $49048 gaining $24128 which is almost a 100% gain in 4 months. It made a sharp pullback last week and today we will look at the Elliott wave structure of Bitcoin since November 2022 low and what the next move in Bitcoin should be.

Bitcoin Long-Term Elliott Wave Analysis​

The bitcoin chart below shows a rally from November 2022 low is so far in 3 waves but we have USDPLN calling more downside in USD Index which means Bitcoin should also be extending higher after a pullback and there we are treating the current pull back as a wave (4) pull back and expecting 1 more leg higher to complete the cycle from November 2022 low as an impulse wave. A new high must show momentum divergence for it to quality as a wave (5). If momentum divergence gets erased, then it should be nesting and open up more extension to complete wave (3). Once the cycle from the November 2022 low completes, we can see a larger pullback in 3 or 7 swings to correct the cycle from November 2022 low before the rally resumes. We don't like selling and expect buyers to appear in the dips in 3, 7, or 11 swings.

Bitcoin Long-Term Elliott Wave Analysis - 2nd View​

The Bitcoin chart below is a slight variation of the one above and shows cryptocurrency to be still within wave (3) and treats current pull back to be wave 4 within wave (3). In either case, we don't like selling and the right side remains up so we expect buyers to appear in the dips in 3, 7 or 11 swings for extension higher to complete the cycle from November 2022 low.

Bitcoin 4-Hour Elliott Wave View - Path 1​

BTCUSD chart below shows the proposed structure of wave (4) pullback to be a Zigzag Elliott Wave Structure and still expects C leg lower to complete the pullback. We don't like selling and once wave B is complete, we expect buyers to appear at 100 - 161.8 Fibonacci extension area of A-B cycles. From there, it can resume the rally in proposed wave (5) or bounce in 3 waves at least.

Bitcoin 4 Hour Elliott Wave View - Part 2​

BTCUSD chart below shows an alternate possibility of a FLAT in wave (4) which has been completed at 41339 (1.12.2024) low and it will now resume the rally in wave (5). A break above 49500 (1.11.2024) high is needed to confirm this view. Another way would be if BTCUSD is holding above the 41339 low and the USD Index reaches an extreme area up from the 12.28.2023 low. In either case, the right side remains bullish and we don't recommend selling.



Source: https://elliottwave-forecast.com/video-blog/bitcoin-elliott-wave-suggests-buyers-in-control/

 

[Elliottwave-Forecast]

Deutsche Bank is a German multinational investment bank and financial services provider. It is one of the nine bulge bracket banks. Deutsche Bank is the largest German banking institution and is a part of the DAX-40 index. Founded 1869 and headquartered in Frankfurt, Germany, it can be traded under tickers $DBK at Frankfurt and $DB at New York Exchange. After printing the all-time highs in May 2007 at 86.23, the stock price has lost more than 95% by March 2020. In the initial article from August 2021, we saw Deutsche Bank turning higher. We were right. Now, we see nesting price action. Soon, acceleration higher should take place. In the current article, we explain the wave structure of $DBK and the targets.

Deutsche Bank Monthly Elliott Wave Analysis 01.19.2024​

The monthly chart below shows the Deutsche Bank stock $DBK traded at XETRA in Frankfurt. From the lows, the stock price has developed a cycle higher in wave ((I)) of a grand super cycle degree. It has ended at 76.87 in January 2001. From there, a correction lower in wave ((II)) has developed an expanded flat Elliott wave pattern. Hereby, expanded flats are 3-3-5 structures which do a new high in price. First, from January 2001 highs, a first leg lower has ended in 3 swings at 23.99 in March 2003. Then, second leg higher in 3 swings has printed the all-time highs at 86.23 in May 2007. Finally, the last leg lower shows an ending diagonal which is an Elliott Wave 3-3-3-3-3 structure.

Hence, Deutsche Bank may have ended correction in wave ((II)) in March 2020 at 4.45 lows. While above, a new cycle in black wave ((III)) is in the first stages and should reach towards the new all-time highs. The target for wave ((III)) will be 81.41-128.93 area and even higher.

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Deutsche Bank Daily Elliott Wave Analysis 01.19.2024​

The daily chart below shows the nesting price action in black waves ((1))-((2)) and blue waves (1)-(2) of black wave ((3)) of red wave I from the March 2020 lows. Firstly, a leading diagonal in black wave ((1)) has ended in February 2022 at €14.64. Within it, the structure is 3-3-3-3-3 pattern. Secondly, a pullback in black wave ((2)) has set a bottom in October 2022 at €7.25 lows. From the lows, new cycle in black wave ((3)) might have started. Break of the February 2022 highs will confirm that. The target will be 17.45-23.76 area and even higher.

In shorter cycles, initial nest in blue waves (1)-(2) of black wave ((3)) has ended in March 2023 at €7.95 lows. While above there, blue wave (3) of black wave ((3)) is in progress. The target is 13.05-16.20 area and beyond. Investors and traders can be waiting for red wave 1 to end first. Then, they can buy the red wave 2 pullback in 3, 7 swings against March 2023 lows for an acceleration higher in red wave 3 of blue wave (3) of black wave ((3)).



Source: https://elliottwave-forecast.com/stock-market/deutsche-bank-heading-acceleration/

 

[Elliottwave-Forecast]

Barrick Gold, headquartered in Toronto, is a major player in global gold and copper mining since 1983. With operations in various countries, the company is a key contributor to the worldwide gold supply. Known for its commitment to responsible practices, Barrick's leadership guides sustainable mining efforts. Below we update the Elliott Wave outlook for the company.

Barrick (GOLD) Weekly Elliott Wave Chart​

Barrick Gold is doing a nest since September 2015 low. Up from there, wave (I) ended at 23.47 and wave (II) dips ended at 9.53. Wave (III) is in progress as an impulse. Up from wave (II), wave I ended at 31.22 and pullback in wave II ended at 13.01. The stock resumed higher in wave III. Up from wave II, wave (1) ended at 20.19 and pullback in wave (2) ended at 13.82 as an expanded flat. Down from wave (1), wave A ended at 15.48, wave B ended at 20.75, and wave C lower ended at 13.82 which completed wave (2). Up from there, wave 1 ended at 18.55. Pullback in wave 2 is now in progress and while the stock stays above 13.82, it should turn higher soon.

Source: https://elliottwave-forecast.com/stock-market/barrick-gold-nyse-gold-looking-bottom/

 

[Elliottwave-Forecast]

Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of Alphabet Inc. ($GOOGL). The rally from 1.08.2024 low at $135.09 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:

Zigzag (ABC) Corrective Structure​

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$GOOGL 1H Elliott Wave Chart 1.17.2024:​

Here is the 1H Elliott Wave count from 1.17.2024. We expected the pullback to find buyers against 1.08.2024 low at red 2 in a 3 swing structure (ABC).

$GOOGL 1H Elliott Wave Chart 1.21.2024:​

Here is the 1H update from 1.21.2024 showing the bounce taking place as expected. The stock reacted higher after doing a Zigzag correction allowing longs to get a risk free position.
Source: https://elliottwave-forecast.com/stock-market/alphabet-inc-googl-found-buyers-zigzag-pullback/