NATURAL GAS NEW UPTREND

Hi Traders,

As predicted, Natural Gas topped within the target area at 4.50-4.56. Then again, it retraced to another predicted target area at 4.21-4.18.

Now, Natural Gas should resume the uptrend to the area 5.10-5.13 and higher.

TARGETS

likely: 5.10-5.13
possibly: 5.37-5.38

ELLIOTT WAVES

Wave 2 in the 4-hour chart stopped right in the middle of wave 4 of a lower degree, as by Ralph Elliott teachings.

This new upcoming uptrend is nothing more than "wave 3" of the recently started trend at 3.537. See the charts below.



weekly chart - click to enlarge

daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge

WTI OIL Bottoming Down

Hi Traders,

WTI OIL is very close to the support at 75.62-74.94. The sputtering downtrend is "kicking the bucket" and the start of a new uptrend is only hours away.

TARGETS

First down to the area 75.62-74.94
then up to the area 87.53-87.62

ELLIOTT WAVES

The weekly chart shows that the a-b-c-d-e will be completed by reaching the area 75.62-74.94 where a new uptrend should start shortly.

The 4-hour and 1-hour chart are clearly sounding the bell as OIL is staging the very last sub-minuette wave down to the target.


weekly chart - click to enlarge

daily chart - click to enlarge

4-hour chart - click to enlarge

wave oscillator - 4-hour chart - click to enlarge

1-hour chart - click to enlarge

Gold bouncing to 1220?

Hi Traders,

GOLD (now at $1155) is performing the last rally to 1220 before resuming the very last ditch to the area around 1089. The present level of 1155 seems to be a good entry point for a short rally to 1200-1220.

BTW, once the downtrend resumes, it should stop around level 1089 or end a bit lower around the area at $1043-32 that seems to be the absolute minimum and it's considered an unbreakable support.

If this analysis is correct, this would mark the very end of the line for the 38 months downtrend which should be followed soon by a new major uptrend.




TARGETS

first up to:

likely: 1200
possibly: 1220
maybe: 1235


then down to

likely: $1089
possibly: $1043-$1032




ELLIOTT WAVES

The weekly chart displays the formation of wave 5 (in magenta, from March 16, 2014). Wave 5 will be made of 5 waves, three of them already completed and the fourth one in formation. 

After wave 4 up, the last wave down will follow (wave 5) which will complete major wave 4 downwards (from Sept 2011). 

The daily chart shows that "Wave 3" is completed and it's starting a rally to form wave four (in magenta) to 1200-1220-1231 

Wave 5 will then follow to establish the historical low at 1089 or a bit lower to the area 1043-1032.





weekly chart - click to enlarge

daily chart - click to enlarge

4-hour chart - click to enlarge