fell in 5 waves and then bounced back in 3. Now we can mark this entire fall as wave 1. But then wave 2 so far is a very small a-b-c. Is it then only wave A of the bounce? This remains the question for the dollar bear market as well. What I can tell you is that during strong trends sometimes you do get small retrenchments. So a-b-c can end of it is A, both are...
Silver MCX prices held better as they did not fall below the 20dma in the recent market reaction to the dollar. The 20dma support is at 67130. Wave 5 up should attempt to move back above the Bollinger band at 70388, and the test the wave 3 high at 77949, and where 5=1 near 81180
The Euro with a few small changes in the wave count as it develops allows me to mark wvae 4 now as a triangle. So wvae e of 4 is going on and the lower line is the final support at 1.175. Holding this we should eventually starts wvae 5 up later to new highs. Final dip in progress I think.
WTI CRude started making higher highs. So the previous decline in a-b-c down for wave 2 is over. no ending pattern in wave 2 extending it lower. This means that wave 3 up started. But it should be a slow and steady advance from here on. The forewords in wave 1 are not going to return. First hurdles are the 20/40 day averages at 40.25 and 41 and we need to close...