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Technical Analysis
Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 199264, member: 40858"] $TLT Can Bounce Further to Correct a Cycle From the March 2020 Highs Firstly the ETF fund TLT inception date was on July 22, 2002. This instrument seeks to track the investment results of an index composed of or in U.S. Treasury bonds with maturities twenty years or more remaining. There is a lack of data before July 22, 2002. This article will focus on the larger uptrend cycle from there which is presumed finished a cycle higher from those lows in wave ((a)) in July 2016. The pullback from that high appeared to be an Elliott wave zig zag structure in three waves into the November 2018 wave ((b)) lows. Secondly: The aforementioned pullback lower in the wave ((b)) was strong enough to suggest it was correcting the cycle up from the all time lows. Thus it appears ended that cycle. From those November 2018 lows the instrument has made another high above the July 2016 highs creating a bullish sequence. This sequence higher from the November 2018 lows appears to be incomplete. On the monthly chart shown below, Elliott wave corrective sequences are in either three, seven or eleven swings. Impulses are in either five, nine or thirteen swings. It is obvious the three swings lower from the July 2016 highs into the November 2018 lows were of three swings. The analysis continues and concludes below the Monthly chart. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/09/TLT-monthly-9-13-21.png'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/09/TLT-monthly-9-13-21-1024x506.png[/IMG][/URL] Thirdly and in conclusion the cycle up from the November 2018 lows ended at the March 2020 highs. Down from there a three swing cycle ended at the March 2021 lows. While a pullback remains above there it can see another swing higher to correct the cycle lower from the March 2020 highs. Afterward it can see another swing lower to correct the cycle up from the November 2018 lows. Source: [URL]https://elliottwave-forecast.com/stock-market/tlt-can-bounce-further-to-correct-a-cycle-from-the-march-2020-highs/[/URL] [automerge]1631544207[/automerge] Gold and related Index such as Gold Miners Junior (GDXJ) have been in steady decline / sideways in the past 14 months. GDXJ in particular continues to correct lower after forming the high at 65.95 on August 2020. In this article, we will take a look at the potential support area for the ETF. We believe the longer term direction of this ETF still remains higher despite the more than 1 year correction. [HEADING=3]GDXJ Monthly Elliott Wave Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/09/GDXJ-Monthly20210913082905.png'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/09/GDXJ-Monthly20210913082905.png[/IMG][/URL] Monthly chart of GDXJ above suggests decline to $15.23 ended Grand Super Cycle wave ((II))/((b)) on January 2016. The ETF starts to turn higher and likely in the very early stage of the next multi-year / decade bull run. Wave ((2)) of III pullback is currently in progress to correct cycle from March 2020 low. As far as pullback stay above $15.23, expect the ETF to resume higher again. [HEADING=3]GDXJ Daily Elliott Wave Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/09/GDXJ-Daily20210913084510.jpg'][IMG alt="GDXJ Daily Elliott Wave chart"]https://elliottwave-forecast.com/wp-content/uploads/2021/09/GDXJ-Daily20210913084510.jpg[/IMG][/URL] Daily chart of GDXJ above shows rally to 65.95 ended wave ((1)) as an impulse. Wave ((2)) pullback is currently in progress as a double three Elliott Wave structure. Down from wave ((1)), wave A ended at 47.68 and wave B ended at 58.55. The ETF then resumes lower in wave C towards 43.24 which also completed wave (W). Wave (X) rally ended at 55.79 as a zigzag structure. Final leg lower wave (Y) of ((2)) could see a little more downside to reach 100% - 161.8% of wave (W) towards 19.06 From this area, the ETF could turn and start the next leg higher. Source: [URL]https://elliottwave-forecast.com/stock-market/potential-support-turn-higher-gdxj/[/URL] [automerge]1631544262[/automerge] Eramet is a French multinational mining and metallurgy company. The company produces non-ferrous metals and derivatives, nickel alloys and superalloys, as well as high-performance special steels. Founded in 1880 with the funding of the Rothschild family and headquartered in Paris, today, the company is largely owned by Duval family and the French state. Eramet is a part of CAC Mid 60 index and can be traded under the ticket $ERA at Euronext Paris. Today, we see commodities in general and metals in particular strongly turning up. In consequence, company like Eramet should see strong support in the overall bullish market. Therefore, investors can be looking to buy Eramet in order to diversify their portfolio by indirect investment in rising metal prices. [HEADING=3]Eramet Monthly Elliott Wave Analysis 09.13.2021[/HEADING] The monthly chart below shows the Eramet stock $ERA traded at Euronext. From the all-time lows, the stock price has developed a cycle higher in black wave ((I)) of grand super cycle degree towards the all-time highs on May 2008 at 669.98. From the highs, a correction lower in black wave ((II)) has unfolded as an Elliott wave zigzag pattern. It has printed an important bottom in February 2016 at 15.36. From the lows, a new cycle in wave ((III)) has already started and should extend towards 669.98 highs and even higher. Within wave ((III)), one can see one nest in place. Indeed, red wave I of blue wave (I) has ended at 167.20 highs. Then, a pullback in wave II has found support at 18.66 on March 2020. While above there, a new cycle in red wave III of (I) is already in progress. The target for wave III will be 171.13-265.55. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/09/ERA-monthly.jpg'][IMG alt="Eramet Elliott Wave Monthly"]https://elliottwave-forecast.com/wp-content/uploads/2021/09/ERA-monthly-300x147.jpg[/IMG][/URL] [HEADING=3]Eramet Daily Elliott Wave Analysis 09.13.2021[/HEADING] The daily chart below shows in more detail the first stages of the advance higher in wave III. From the March 2020 lows at 18.66, the initial impulsive advance in black wave ((1)) migfht be still in progress. The blue subwaves (1)-(4) have ended. While above 47.48, wave (5) o ((1)) can extend higher. Once accomplished, a correction in wave ((2)) should correct the March 2020 cycle before an acceleration to the upside within wave ((3)) of III should take place. Investors and traders can be looking to buy Eramet in a pullback against 18.66 lows in 3, 7 or 11 swings expecting acceleration higher. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/09/ERA-daily.jpg'][IMG alt="Eramet Elliott Wave Daily"]https://elliottwave-forecast.com/wp-content/uploads/2021/09/ERA-daily-300x147.jpg[/IMG][/URL] Source: [URL]https://elliottwave-forecast.com/stock-market/eramet-high-upside-potential/[/URL] [/QUOTE]
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