USDJPY to top soon?

Hi Traders,

The long running uptrend of USDJPY (now at 117.91) - that started on OCT 31 2011 - could finally come to an end by topping in the area 124-126.

This should be followed by a retracement to the area around 111-109.


TARGETS

first up to:

likely: area 123.734-124.088
possibly: area 124.797-125.683
maybe: 125.759-126.330

then down to:

likely: 115.759-114.962
possibly: 111.683-111.329
maybe: 108.898


ELLIOTT WAVES

The monthly and weekly charts show that wave 9 is approaching the target. In the daily and 4-hour charts this would be wave 13.

In the 4-hour and 1-hour charts note wave 1 and 2 which mark the beginning and the end of the triangle. They will be followed by 3 wave up to the target.




monthly chart - click to enlarge

weekly chart - click to enlarge

daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge

AUDUSD to stop at 0.78?

Hi Traders,

The AUDUSD needs another little dive just below the 0.78 area before finding some temporary strength to start a trading range between 0.78 and 0.837

TARGETS

first down to

likely: 0.7800
possibly: 0.7693-0.7676

then trading range between 0.78 and 0.837

ELLIOTT WAVES

Weekly and daily charts indicate that the Aussies dollar has almost completed wave 3 (out of 5). This "wave 3" of a major degree is made out of 5 little waves of a minor degree (see 4-hour and 1-hour charts). We still need "minor wave 5" to complete "major wave 3" down.

Then the AUDUSD should be able to bounce back and start the trading range above mentioned. This trading range could eventuate as an "a-b-c-d-e triangle".




monthly chart - click to enlarge

weekly chart - click to enlarge

daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge

   

Gold New Top

Hi Traders,

Gold (now at 1289) should top around the area 1318.12-1320.71 (see daily chart) and start a new downtrend soon.

If this is just a retracement, the new downtrend should lead to the area 1240.41-1238.18 or even the area 1223.05-1221.45.

Conversely, if GOLD resumed the original downtrend, the yellow metal should finally bottom down at 1089 or a bit lower.

TARGETS

first up to (see weekly chart)

likely: area 1311.81-1313.67 
possibly: area 1318.12-1320.71
maybe: area 1333.23-1337.49

Then down to

1) If this is just a retracement:

support 1: 1257.81 -1254.96

support 2: 1240.41-1238.18

support 3: 1223.05-1221.45

support 4: 1203.31- 1201.47

2) If Gold resumed the original downtrend:

likely: 1089.05

possibly: 1043-1032

ELLIOTT WAVES

The daily chart shows that we are approaching the top of "wave e" which is also the top of "major wave 4". A short  wave 5 downwards should unfold soon.

Note the 9 waves in the 4-hour chart and 1-hour chart

NOTE:

Some say that Silver bottomed down on Dec 1st and started a new major uptrend already. Hence, the above analysis would generate an inconsistency given the tight Gold-Silver correlation.

Definitively possible, but for the time being, I stick to my Elliott wave count which seem to be leading to a new major low soon.

FURTHERMORE

Some may find the wave labelling in the 4-hour chart and in the 1-hour chart "a bit too bold". Understandable, but it would make no difference. Other interpretations would probably lead to the same result: the start of a downtrend.

weekly chart - click to enlarge

daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge

WTI OIL, the last dive, for now

Hi Traders,

WTI OIL is set to perform the last dive to the area $42-$40 followed by a long trading range between the new low and $61-63.

TARGETS

likely: 42.04-43.14
possibly: 40.94-40.39

ELLIOTT WAVES

The weekly and daily charts show that we are bottoming down by completing wave 3 (of 5) down to the above targets. The 4-hour and 1-hour charts show that it's a matter of hours for this to occur.

The new low at $42-$40 should be followed by the retracement wave 4 (weekly and daily charts), made out of 5 waves. It might unfold with a triangle or a similar formation, with the first leg reaching up the area at $61-$63.




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 soon

Hi Traders, Happy 2015!

The WTI OIL (now at $48.81) is performing a small rebound to $50-$52 before resuming the downtrend to the support area at $45-$42.

After reaching the new low, it should start a long trading range (months) with a top around $69-$70.

TARGETS:

first up to:

likely:$50.20-$50.29

possibly: $51.27-$51.75

then down to:

likely: $45.34-$44.65

possibly: $43.14-$42.04

ELLIOTT WAVES

The weekly chart shows that wave 3 (in magenta) will be fully shaped only by reaching the target down to $45-$42. This will be followed by wave 4, an "a-b-c-d-e wave" that might take few months to reach the top at $69-$70.

The fact that wave 3 is not finished (weekly chart) is revealed in the 4-hour chart where wave 5 downwards still requires the small waves 4 and 5 (in green, font 8) to enfold and fully complete the pattern.

The 1-hour chart also confirms the same ongoing rebound (wave 4) that should lead up to the area around $50-$52 (wave 4). This wave will be followed by wave 5 down to the area $45-$42.

The completion of these 5 little waves in the 1-hour chart will complete wave 3 in the weekly chart.

All of this (1-hour chart) is likely to occur within a week or two.

weekly chart. click to enlarge

daily chart. click to enlarge

4-hour chart. click to enlarge

1-hour chart. click to enlarge

The Swiss referendum on Gold

Hi Traders,

Please read about Swiss referendum on gold reserves. Very interesting.
http://snbchf.com/2014/09/ron-paul-swiss-gold-referendum/

If the Swiss people see this "gold-guaranteed-Switzerland" as a good business, they will go for it.

Besides, there's a precedent that speaks out loudly: since 1968, Switzerland enormously treasured from the world inflation by getting a huge capital inflow that lasted decades.

This in turn, generated more wealth management for the banks and a lot more business for the country. 

This is a clear signal to the world that Switzerland is getting ready for the upcoming inflation and it's back into the good old role of "safe banking heaven" as usual.

Switzerland surprised me many times and may do it again, especially after the ongoing Real Estate Bubble caused by the peg to Euro.

Finally, as I said in my previous newsletters, after the Central Bank Gold Agreement (CBGA) on May 19,  the 21 European Central Banks stopped selling Gold

So, who is still selling Gold right now? Well, buckle up: volatility is coming soon.

Mario D. Conti

WTI OIL very last dive

Hi Traders,

WTI OIL (now at 75.00) is very close to the ultimate support around 72.40. I believe that the downtrend is very close to the end of the line. Expect strong volatility as the new uptrends starts over.

TARGETS

First down to the area around 72.40
then up to the area 85.46-85.88 (see daily chart)

ELLIOTT WAVES

The weekly chart shows that the a-b-c-d-e will be completed soon by reaching the area around 72.40 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

1-hour chart - click to enlarge

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

SILVER approaching the ultimate target

Hi Traders,


SILVER (now at $15.33) is fast approaching the predicted target around $14.63.

The precious metal should end the downtrend above the $14.00 area that seems to be the absolute minimum and it's considered an unbreakable support.

If it's true, this would mark the end of the line for the 3.5 years downtrend which should be followed soon by a new major uptrend.




TARGETS

likely: $14.63
possibly: $14.00




ELLIOTT WAVES

The monthly and  weekly chart displays the nearing completion of both wave 5 (in red) and wave 3 (in magenta) which will both complete our major wave 4 downwards (in grey). 

The daily chart shows that  "Wave 5" (in magenta) is on the way to be completed as well but displays only 3 smaller waves down (in red) out of 5. 

Usually, the last wave down (daily chart) is made out of 5 waves. However, either my wave count is incorrect or this is a rare case of a final wave made of 3 waves only. 

BTW, it wouldn't make much difference. In either cases, it's almost over.






monthly chart - click to enlarge

weekly chart - click to enlarge

daily chart - click to enlarge

GOLD approaching the ultimate target

Hi Traders,

GOLD (now at $1134) is fast approaching the predicted target around 1089.

Even in the event of a breakout below this level, the yellow metal should end the downtrend above the area at $1043-32 that seems to be the absolute minimum and it's considered an unbreakable support.

If it's true, this would mark the end of the line for the 38 months downtrend which should be followed soon by a new major uptrend.




TARGETS

likely: $1089
possibly: $1043-$1032




ELLIOTT WAVES

The weekly chart displays the formation of wave 5 (in magenta) which will complete major wave 4 downwards (in grey). 

The daily chart displays "wave 1" and "wave 2" (in magenta). "Wave 3" is almost completed and it's made out of 5 smaller waves down (in red). 

Usually, the last wave down (weekly chart) is made out of 5 waves. However, either my wave count is incorrect or this is a rare case of a final wave made of 3 waves only. 

BTW, it wouldn't make much difference. In either cases, it's almost over.







weekly chart - click to enlarge

daily chart - click to enlarge

NATURAL GAS STARTED MAJOR UPTREND

Hi Traders,

Natural Gas (now at 3800) started a major uptrend 2 days ago as predicted. It's now to retrace a bit to 3760-43 before resuming the uptrend to 3924-50. That should mark the top of "sub-minuette wave 1".

As you can see by the 2-hours chart below we're still plenty of time to get on board for a long position.

ELLIOTT WAVES

The  letter "C" at the bottom right of the chart marks the very end of major retracement wave C. That wave was part of large A-B-C downward correction started from the top at 6,481 on FEB 24, 2014. It bottomed at 3,537 on OCT 28.

TARGETS

first 3760-43
then 3924-50

PS: apologies for not providing more charts but I'm utterly busy.

Mario D. Conti. 

https://www.tradingview.com/x/xzeOEBgC/

SPI200 end of the line?

Hi Traders,

The SPI200 (now at 2428) seems to be at the end of the line.

TARGETS

likely: 5345-5323
possibly: 3278-3267
maybe: 3221

ELLIOTT WAVES

The weekly chart displays the a-b-c (or the a-b-c-d-e) in the making. Wave c downwards should end around 4925 or 4847.

The daily chart reveals that wave b is finished. Wave c downwards should be in the making already.

The 1-hour chart displays 9 waves up, marking the end of wave 3 up as expected.

NOTE: I honestly thought that it would have gone all the way up to the area 5494-5507 (theoretical target) before reversing.

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

Natural Gas - Major Pivot Point

Hi Traders

The end of the line for Natural Gas (now at 3601) is very much in sight. This sputtering downtrend is to be followed soon by a significant reversal that would mark the beginning of a major uptrend.

The 1-hour chart (in the link below) displays the sub-minuette waves 1 and 2 (in green, bottom right) as part of a group of 5 waves down that should be fully formed at the beginning of the week.

At weekly and daily level, this is the very end of a major A-B-C retracement.
Hence, expect a major reversal.

TARGETS

first down to the area 3515-3475
then up to the area 4163-4187

for images please check on https://www.tradingview.com/x/kTQ7LKkd/
or
Natural Gas Major Pivot Point by mariodconti

GOLD triple bottom

Hi Traders,

Gold (now at 1241) has made a triple bottom around 1183 (see weekly chart and daily chart) and started a corrective rally as usual. At this stage, there's still no sign of  the typical set of waves that mark the end of the major downtrend started in Sept 2011.

Hence, Gold should make a new top in the area 1249-52 or even 1263-64 before resuming the downtrend to the area 1164-1154 and lower. HOWEVER, please read the "NOTE" below: there could be a surprise.


TARGETS

first up to
likely: area 1249-52
possibly: area 1257-60
maybe: 1268-69

then down to
likely: area 1164-1154
possibly: 1089 (to reach the theoretical fibo target)
maybe: 1043-1032 (to sit on the primary support)



ELLIOTT WAVES

GOLD is almost done with the very minor wave 4 upwards (1-hour chart and 4-hour chart). The new wave down following this temporary top should form the smaller wave 5 of the larger wave 3 (daily chart).

This little wave 5 should break through the support at 1182-83 and move down to the first of the targets above  mentioned (area 1164-1154). 

By The Way:

NOTE:

If the present rally tops much higher than predicted (at 1290-93 or even 1318-21, quite possible), then the wave count will need a re-assessment.

If this scenario occurs wave 3 (bottom right of the daily chart) will also take the name of "wave d" and this would extend target of the recent uptrend up to  1290-1321 to form "wave e".

"Wave e" would be followed by the very last leg down - in 5 smaller waves - to form the historical low (major wave 4, weekly chart) at 1064-1054, $1089 or $1043-$1032 and will mark the end of the 3 years downtrend.

Hence, if this scenario materialises, GOLD would need few more weeks to reach the bottom of major wave 4 (up to the last week of Dec 14).

The area at $1043-$1032 is, by the way, the ultimate support. This low should mark the absolute minimum that everyone was waiting for, given that the ultimate support at $1043-$1032 is considered almost unbreakable. 

If all this is true, a very major uptrend should then follow.






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