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Technical Analysis
Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 199962, member: 40858"] $NEM Longer Term Bullish Cycles of The Newmont Corporation Firstly from the beginning of price data from back in the 1970’s not shown on the chart, the price trend was obviously up. It ended that bullish cycle in September 1987 and pulled back really hard during the October 1987 crash. Price stabilized from there several years into the 1996 highs before another cycle lower into the October 2000 lows. That swing lower finished a correction of the cycle up from the all time lows. Those lows are still intact. The bounce that developed from the October 2000 lows into the January 2006 highs appears to have been an Elliott Wave impulse of five waves. Secondly the three large swings from the January 2006 highs down to November 2008 lows appears to be the beginning of a large flat 3-3-5 structure. From the November 2008 lows back up to the November 2011 highs was likely a zig-zag structure by itself. The decline from the November 2011 highs down to the August 2015 lows appeared to be five waves. This completed a 3-3-5 flat structure. Of note, the lows from October 2000 remained intact again suggesting the August 2015 lows finished correcting that cycle up from there. The analysis continues below the chart. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/10/NEM_2021-10-01.png'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/10/NEM_2021-10-01-1024x506.png[/IMG][/URL] Thirdly in conclusion the aforementioned lows from August 2015 & now as well as the October 2018 lows should remain intact during future pullbacks for a long time to come. The bounce from those lows definitely ended the cycle lower. The bounce to the August 2016 high appeared to be five waves up. This was similar to the October 2000 to January 2006 bounce although of smaller degree. The pullback lower from the August 2016 high to the October 2018 low was obviously three swings. Price has bounced real hard from there suggesting it is within a larger degree wave three. Pullbacks should remain well above the October 2018 cycle lows. While doing that, the possibility remains that current cycle will take out the old highs from September 1987 in the not too distant future. Source: [URL]https://elliottwave-forecast.com/stock-market/nem-longer-term-bullish-cycles-of-the-newmont-corporation/[/URL] [automerge]1633099559[/automerge] $PFE Elliott Wave Cycles & Long Term Bullish Trend The Pfizer Long Term Bullish Trend and Elliott Wave Cycles suggest the stock price will be trending higher. The cycles project it should continue toward the April 1999 highs while it is above the March 2020 lows. From the beginning of the stock trading it had a couple decades long uptrend cycle to the April 1999 peak. This is where the analysis begins on the chart at the larger degree blue wave (I). Firstly I will mention that is roughly a 10 year decline in the blue wave (II) to the March 2009 lows. This was certainly long enough in time and price to correct the previously mentioned decades long up trend cycle. The pullback was a basic seven swing double three correction. You can see the subdivisions of the larger degree red w and y subdivided into three swings each as well. The connector wave red x appeared to have been a triple three although it is not of any significance now. It served the purpose at the time of being the connector wave. Secondly I will talk about the impulsive bounce from the March 2009 larger degree blue wave (II) lows. I would also like to mention you can see the guidelines for reading Elliott Wave structures at our website. From the March 2009 lows the larger degree red I subdivided into a clear five waves. There was enough room on the chart to show the subdivision the wave ((2)) lows to the wave ((3)) highs into five waves of smaller degree in blue. The analysis and conclusion continues below the chart. [HEADING=3]PFIZER Monthly Chart $PFE[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/10/PFE_2021-10-01.png'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/10/PFE_2021-10-01-1024x506.png[/IMG][/URL] Thirdly as you can see the wave ((4)) lows in February 2016 to the December 2018 highs was also extended enough to show the subdivision of the wave ((5)) cycle. I also will mention some of the technical aspects of why the red I and II is favored in place to give that target area. The stock clearly shows a five waves impulse from the 2009 lows. The read on the momentum indicators like rsi suggested the dip to the March 2020 lows corrected the whole cycle from the March 2009 lows. In conclusion, ideally the stock will go higher while above the March 2020 lows. To get the longer term target area beginning at 62.64 is as follows. Take the Fibonacci extension tool on your chart platform and begin at the point of the March 2009 lows. From there go up to the point of the red I peak then back down to the red wave II low. That will give a target extension area where the current red wave III is equal to the red wave I at 62.64. As mentioned that is where the target area begins. Higher would be more preferable as we sometimes see a wave III reach the 161.8 Fibonacci extension or greater. Once it ends it will only be expected to correct the cycle up from the March 2020 lows. This should be in a relatively shallow .236 to .382 Fibonacci retracement of the wave III cycle. Afterward it will be expected to be turning higher again. Source: [URL]https://elliottwave-forecast.com/stock-market/pfe-elliott-wave-cycles-long-term-bullish-trend/[/URL] [automerge]1633099608[/automerge] The last time I analyzed this company (article can be found [URL='https://elliottwave-forecast.com/stock-market/matador-resources-co-mtdr-bullish-potential/']here[/URL]), it was close to setting a low in wave ((2)) before moving higher in a wave ((3)). Before I get into the charts, lets check out the company profile: [I]"Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Our current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. We also operate in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana."[/I] Technically speaking, I liked what I saw nearly a year ago, so how did things play out? Lets take a look at the previous Elliottwave view from 2020: [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/09/MTDR-Blog-2020.png'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/09/MTDR-Blog-2020-1024x525.png[/IMG][/URL] I had noted in the previous article, that the stock may bottom at the 0.618% extension area, instead of the blue box due to a variety of factors which you can read in my previous article. How did things turn out? Well lets take a look at the current view: [HEADING=2][B]Matador Resources Elliottwave View:[/B][/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/09/MTDR-Blog20210929174417.png'][IMG alt="Matador Resources"]https://elliottwave-forecast.com/wp-content/uploads/2021/09/MTDR-Blog20210929174417-1024x525.png[/IMG][/URL] Prices did indeed strike a low near the orange box area on the initial view. From there, prices have enjoyed a very nice wave ((3)) advance. From that low set in October 2020, the stock has shown a 5 waves impulse into ((3)). ((3)) peaked on June 25/2021 at 38.05. From there a pullback took place in ((4)) which bottomed at the August 19/2021 low. After that, it has rallied impulsively, and exceeded the ((3)) peak creating a new incomplete bullish sequence. In conclusion. There are some 3s and 4s that need to be realized before this stock can peak. the 41.31 to 46.43 is the next area on the upside where another pullback can happen. Source: [URL]https://elliottwave-forecast.com/stock-market/matador-resources-co-mtdr-advancing-5th-wave/[/URL] [automerge]1633099642[/automerge] Platinum is a metal which is used in jewelry, decoration and dental work. The metal and its alloys are also used for electrical contacts, fine resistance wires and medical / laboratory instruments. An alloy of platinum and cobalt is used to produce strong permanent magnets (chemicool.com). Other uses of the metal include cancer drugs, use in car airbags, personal hygiene and make up products, as a catalyst in hydrogen-powered fuel cell electric vehicles (FCEVs) and power generation. Today, we will take a look at long-term Elliott Wave Analysis and forecast of Platinum futures. [HEADING=3]Platinum Futures Elliott Wave Analysis - Monthly Chart[/HEADING] Monthly chart below shows super cycle wave (I) completed in March 2008. Within super cycle wave (I), wave I completed at $652.8, wave II completed at $329.5, wave III completed at $1347, wave IV completed at $1053 and wave V at $2308.8. This was followed by a zigzag Elliott wave pull back to $562 which completed in March 2020. Metal rallied nearly for 11 months to reach a high of $1348.2 in February 2021 and is pulling back again. As far as pull back stays above March 2020 low, we expect the rally to resume for a new high above March 2008 or 1 more leg higher at least. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/09/PL-Futures-M20210930211145.jpg'][IMG alt="Platinum Futures Monthly Elliott Wave Analysis"]https://elliottwave-forecast.com/wp-content/uploads/2021/09/PL-Futures-M20210930211145.jpg[/IMG][/URL] [HEADING=3]Platinum Futures Elliott Wave Analysis - Daily Chart[/HEADING] Chart below shows Elliott wave structure of the rally from March 2020 low. As the chart shows rally can be counted in 5 waves and completed at $1348.2 in February 2021. This has been labelled as wave I of (III). Since then it has been in a pull back and is currently showing 5 swings down within the pull back. While below $1011 and more importantly below $1145.2, expectations are for another swing lower towards $812.9 - $606.5 to complete 7 swings corrective pull back in wave II. As cycle from March 2008 peak has ended so our strategy remains to look for buying opportunities in the pull backs as far as prices stay above $562 low. Alternate view suggests, wave II pull back ended already at $892.6 and next leg higher has started. A break above $1011 will make the alternate view more likely to play out. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/09/PL-Futures-Daily20210930212832.jpg'][IMG alt="Platinum Futures Daily Elliott Wave Analysis"]https://elliottwave-forecast.com/wp-content/uploads/2021/09/PL-Futures-Daily20210930212832.jpg[/IMG][/URL] Source: [URL]https://elliottwave-forecast.com/commodities/platinum-futures-elliott-wave-analysis/[/URL] [/QUOTE]
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