GOLD kicked the week off on a positive footing 0.22% higher, however, its corrective structure still hints at a triangle. A short-term upside can indeed bring the end of wave B forward. Otherwise, medium-term downside risks will increase.
OIL prices continue to ascend to levels that reduce the probabilities of a triangle in primary wave B existing. The #WTI trades only 0.07% higher intraday and faces strong resistance below 85. Could it prove non-corrective, but progressive? Check the alternatives!
Aussie has plummeted last Friday and is likely to plunge lower unless a correction sees more upside short-term. With the downside leg looking impulsive so far and below the base channel, 72c is expected to give in one way or another.
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Daily Elliott Wave Forecast: GOLD, OIL, AUDUSD (17.01.22)
GOLD kicked the week off on a positive footing 0.22% higher, however, its corrective structure still hints at a triangle. A short-term upside can indeed bring the end of wave B forward. Otherwise, medium-term downside risks will increase.
OIL prices continue to ascend to levels that reduce the probabilities of a triangle in primary wave B existing. The #WTI trades only 0.07% higher intraday and faces strong resistance below 85. Could it prove non-corrective, but progressive? Check the alternatives!
Aussie has plummeted last Friday and is likely to plunge lower unless a correction sees more upside short-term. With the downside leg looking impulsive so far and below the base channel, 72c is expected to give in one way or another.
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
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