Crude Oil forecast as of 11/06/2009

Nothing has changed when it comes to crude oil. Market is still consolidating and  Elliott continues showing “Zig-Zag” (ZZ) 3rd wave in the range of 73.29 – 102.46 between August 10th and October 6th .This wave can last until November 23rd before this specific combination would come invalid. Price wise, there is plenty of room to go.

QMContinues 091108 11.19.31 085.7A

Gold forecast as of 11/06/2009

Gold –  Elliott shows still (independent of last week new highs)  that the “Zig-Zag”(ZZ) up is done and market is in the process of new wave down. We need a little longer and deeper correction, to get clearer picture, what is actually going on.

GOLD5 091108 10.43.53 077.4A

British Pound forecast as of 11/06/2009

GBPUSD –Elliott shows that market is in the process of  ZZ 3rd wave in the range of 1.7036 – 1.9617 between December 1st and May 11th .

Market move below recent lows means that ZZ 2nd wave is not complete after all.

GBPUSD5 091108 10.02.36 108.5A

Euro forecast as of 11/06/2009

Right now, Elliott shows that DZ 3rd wave ZZ is complete and new longer term wave down has started. This new wave is way too short to reliably forecast what it will be and how deep will move and long it will last.

EURUSD5 091108 10.02.00 091.7A

Schedule change.

There will be slight schedule change for Elliott wave forecasts. Instead of Tuesdays, the forecasts will be posted over the weekend to refelct the previous week’s move.

WordPress Themes