Crude Oil forecast as of 05/26/2009

QMN9 – Looking at the shorter term pattern, Elliott shows that market is in the process of “Flat” (FL) 2nd wave in the range of 37.78 –44.70 between May 12th and July 24th .

qmcontinues_090526_a_blog1

Flat’s 2nd wave is also FL that is still doing its 2nd wave, which seems to be “Zig-Zag” (ZZ) completing its 3rd wave in the range of 62.16 – 70.58 between May 22nd and June 2nd. Market move below 56.00 signals, that market move up for now might be done.

qmcontinues_090526_b_blog1

* Click on chart to view larger image and print.

Flat is a three wave pattern, where 1st and 2nd wave are corrective in nature and 3rd, the last wave, impulsive in nature.

Gold forecast as of 05/26/2009

Gold – Looking at the pattern that started from February high, Elliott shows that market is in the process of “Double Zig-Zag” (DZ) 2nd wave in the range of 919.42 – 976.96 between May 7th and June 23rd .

This wave is in its time and price area. Market move below 900 makes it likely that DZ 3rd wave has started.

gold5_090526_blog

* Click on chart to view larger image and print.

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

British Pound forecast as of 05/26/2009

GBPUSD –For shorter term, Elliott shows that, market is in the process “Zig-Zag” (ZZ) 3rd wave in the range of 1.5135 – 1.6435 between May 8th and June 25th.

Market is deeply in its price and time target area. Market move below 1.50 signals that move up might be done and new wave down started.

gbpusd5_090526_blog1

* Click on chart to view larger image and print.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Euro forecast as of 05/26/2009

EURUSD – Looking at the shorter term pattern, Elliott shows that market is in the process of “Zig-Zag” (ZZ) in the range of 1.3748 – 1.5205 between May 7th and June 29th .

Looking closer at the last wave, the Impulse is making its last wave that is through its time and price area, meaning, the IM and hence the ZZ could be done any time. Market move below 1.35 makes it very likely.

eurusd5_090526_blog1

* Click on chart to view larger image and print.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Crude Oil forecast as of 05/19/2009

QMN9 – Looking at the shorter term pattern, Elliott shows that market is in the process of “Flat” (FL) 2nd wave in the range of 29.07 – 39.58 between April 28th and June 15th .

Flat’s 2nd wave is also FL that is still doing its 2nd wave, that is above likely price range but time wise has room to go. Market move below 50 makes it likely that FL 3rd wave down has started which will complete larger scale FL 2nd wave.

qmcontinues_090519_blog

* Click on chart to view larger image and print.

Flat is a three wave pattern, where 1st and 2nd wave are corrective in nature and 3rd, the last wave, impulsive in nature.

Gold forecast as of 05/19/2009

Gold – Not much has changed here. Elliott shows that market is in the process of “Flat” (FL) 3rd wave in the range of 423.49 – 727.89 between May 14th and October 14th.

Market move above 1000 signals that FL 2nd wave is not done yet or we have a completely new pattern all together.

gold5_090519_blog

* Click on chart to view larger image and print.

Flat is a three wave pattern, where 1st and 2nd wave are corrective in nature and 3rd, the last wave, impulsive in nature.

British Pound forecast as of 05/19/2009

GBPUSD –For shorter term, Elliott shows that, market is in the process “Flat” (FL) 3rd wave in the range of 1.5081 – 1.6564 between April 30th and July 15th .

Market move below 1.45 signals that move up might be done and new wave down started.

gbpusd5_090519_blog

* Click on chart to view larger image and print.

Flat is a three wave pattern, where 1st and 2nd wave are corrective in nature and 3rd, the last wave, impulsive in nature.

Euro forecast as of 05/19/2009

EURUSD – Looking at the shorter term pattern, Elliott shows that market is in the process of “Zig-Zag” (ZZ) in the range of 1.3748 – 1.5205 between May 7th and June 29th.

Looking closer at the last wave, the Impulse is making its last wave that is touching its time and price area, meaning, the IM and hence the ZZ could be done any time. Market move below 1.35 makes it very likely.

eurusd5_090519_blog

* Click on chart to view larger image and print.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Crude Oil forecast as of 05/12/2009

QMM9 – Elliott shows that “Zig-Zag” (ZZ) 2nd wave is not done. This wave is way beyond it’s likely timeframe of April 9th but price wise has lots of room to go to the range of 56.47 – 91.74.

Short term, market has kept going up, so the same like last week, the market is in the process of FL 2nd wave down that has yet to finish it’s 2nd wave up. Little confusing, I know, but if you follow the colors, it becomes clear.

qmcontinues-090512_blog

* Click on chart to view larger image and print.

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Gold forecast as of 05/12/2009

Gold – Not much has changed here. Elliott shows that market is in the process of “Flat” (FL) 3rd wave in the range of 423.49 – 727.89 between May 14th and October 14th.

Market move above 1000 signals that FL 2nd wave is not done yet or we have a completely new pattern all together.

gold5-090512_blog

Flat is a three wave pattern, where 1st and 2nd wave are corrective in nature and 3rd, the last wave, impulsive in nature.

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