Monthly Archives: May 2015

Palladium

Uptrend still in place in Minor wave 5  :

On this log scale weekly-frame of Palladium, the wave counts explain a six years rally in overlapping waves, as an extensive ending diagonal which is in the late stages.

The recent rise from the 723 low of Minor wave 4, as an initial move, would indicate that price will continue to climb higher in final rally of Minor wave 5 in the coming months. The wave 5 should carry above the 913 high on September 2014, to complete the Intermediate wave (C) as an ending diagonal.

Based upon this concept, the outlook remains bullish, as long as the fourth wave’s low at 723 holds.

Palladium - Weekly

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Platinum

Medium- term bear trend still in place :

On this weekly frame of Platinum, the wave counts explain the decline from the 1918.5 high, in an extensive W- Triangle X – Y formation as Intermediate wave (B), which its latest wave as Minor wave Y is extending to lower.

Based upon this explanation, the outlook remains bearish through the anticipated target at 952.9, where Y = W.

Platinum - Weekly

Silver

Intermediate Fourth Wave Underway :

On this weekly frame of the Silver, the wave counts explain how the Silver may work sideways and develop the Intermediate wave (4) as a triangle, flat, or complex “three”, over the coming months.

Based upon this interpretation, the outlook in medium-term remains sideways, as long as the price consolidate on the 16.99 structural resistance. And ultimately, the following decline of Silver in the Intermediate wave (5) will terminate the Primary wave A(circle), probably early in 2016.

Silver - Weekly

Gold

Intermediate Fourth Wave Underway :

On this weekly frame of Gold, the wave counts explain how the Gold may work sideways over the coming months. A development of Intermediate wave (4) of the Primary wave A(circle), which still remains in progress.

Based upon this interpretation, the outlook in medium-term remains sideways, as long as the price balance on the Fibonacci 1.618 expansion level at 1175.5. And eventually, the following decline of Gold in the Intermediate wave (5) will terminate the Primary wave A(circle), probably early in 2016.

Gold - Weekly

DX

Intermediate Fourth Wave Underway :

The Dollar Index retraced through the 38 percentage of Intermediate extended wave (3). The decline from the 100.785 high on March 13 could be counted as initial segment of an extensive correction underway.

The Intermediate fourth wave developing has traced out in the following alternate views on weekly charts:

  • Developing in the sideways as an A-B-C-D-E triangle, which its Minor wave A has completed, Minor wave B rally is in progress and Minor waves of C, D and E lie ahead.
  • Developing to the downside in an A-B-C zigzag, which its Minor overlapping wave A could be as a leading diagonal still in progress, and Minor waves of B and C lie ahead.

Both interpretations carry the same message : The correction will continue to progress over the coming months.

DX - WeeklyDX - Weekly-1