Crude Oil forecast as of 06/30/2009

QMQ9 – As market did not break recent lows, Elliott shows that market is still in the process of  “Double Zig-Zag” 3rd wave.  This wave is way into its price range of 65.43 – 74.59 time range of  May 19th and June 25th.

Market moving below recent lows will most likely confirm that new wave down has started.

QMContinues_090630_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.

Gold forecast as of 06/30/2009

Gold – Nothing much has changed since last week. Looking at the pattern that started from February high, Elliott shows that market is in the process of “Flat” (FL) 2nd wave in the range of 923.45 – 1091.98 between February 11th and August 7th .

Elliott also shows that the 3rd wave is ZZ that is touching it’s likely price and time area, although there is quite a bit of more room to go.

Market move below 860 confirms that FL 3rd wave down has started.

GOLD5_090630_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 06/30/2009

GBPUSD – Currently Elliott shows that market is in the process of “Flat” (FL) 2nd wave in the range of 1.2901 – 1.4450 between July 28th and October 26th .

Market has been in a narrow range for couple of weeks, if it breaks up, the pattern might change.

GBPUSD5_090630_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 06/30/2009

EURUSD – Elliott shows that market is in the process of  “Double Zig-Zag” (DZ) 2nd wave in the range of 1.3093 – 1.3846 between July 1st and September 11th .

Market can move up and make even new recent highs with out invalidating this pattern.

EURUSD5_090630_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.

Crude Oil forecast as of 06/23/2009

QMQ9 – Based on recent market action, Elliott shows that last week’s “Double Zig-Zag” might be done. This DZ was either larger degree pattern’s middle wave up or as shown on the graph, Flat” (FL) 1st wave.  If the new wave is FL 2nd wave then the market will move to the range of 25.96 – 45.39 between July 31st and October 22th.

QMContinues_090623_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 06/23/2009

Gold – Nothing much has changed since last week. Looking at the pattern that started from February high, Elliott shows that market is in the process of “Flat” (FL) 2nd wave in the range of 923.45 – 1091.98 between February 11th and August 6th .

Elliott also shows that the 3rd wave is ZZ that is touching it’s likely price and time area, although there is quite a bit of more room to go.

Market move below 860 confirms that FL 3rd wave down has started.

GOLD5_090623_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 06/23/2009

GBPUSD – Currently Elliott shows that market is in the process of “Flat” (FL) 2nd wave in the range of 1.2909 – 1.4437 between August 10th and November 13th .

It is worth noting that the FL 1st wave ZZ might have been longer term combination 2nd wave up and market might move down more deeply than the current “Flat” 2nd wave scenario would lead us to believe.

GBPUSD5_090623_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 06/23/2009

EURUSD – Elliott shows that market is in the process of  “Double Zig-Zag” (DZ) 2nd wave in the range of 1.3093 – 1.3846 between July 1st and September 11th .

It is possible that the ZZ, which was the first wave for the current DZ, was larger scale combinations middle wave up and the new wave down will be longer and deeper than the current DZ suggests.

EURUSD5_090623_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.

Crude Oil forecast as of 06/16/2009

QMN9 – Nothing has changed since last week. Looking at the last wave up, Elliott shows that market is in the process of “Double Zig-Zag” (DZ) 3rd wave in the range of 65.43 – 74.59 between May 19th and June 25th .

Market is in its likely time and price range. Market move below 66.00, makes it possible that the wave up is done.

qmcontinues_090616_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.

Gold forecast as of 06/16/2009

Gold – Nothing much has changed since last week. Looking at the pattern that started from February high, Elliott shows that market is in the process of “Flat” (FL) 2nd wave in the range of 923.45 – 1091.98 between February 11th and August 6th .

Elliott also shows that the 3rd wave is ZZ that is touching it’s likely price and time area, although there is quite a bit of more room to go.

Market move below 860 confirms that FL 3rd wave down has started.

gold5_090616_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.

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