OIL tumbled 7% yesterday, adding to its double-digit losses after bears decided to extend its 5th wave down to A. Despite gaining some back this morning, its structure hints only at an internal fourth wave correction. Can the $100/bbl give in?
GOLD dipped 1.70%, turning more impulsive to the downside with a 5th extension also at play. On an intraday basis, however, the yellowmetal is not holding its grip, and it’s pointing to a fresh low already.
The Mexican Peso rose some 0.50% against the #dollar but it’s up 3.15% since the pair ended its wave (2) correction at 21.50. Further downside below 20 would add significant bearish momentum. Can it get there?
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Daily Elliott Waves Forecast: OIL, GOLD, USDMXN (16.03.22)
OIL tumbled 7% yesterday, adding to its double-digit losses after bears decided to extend its 5th wave down to A. Despite gaining some back this morning, its structure hints only at an internal fourth wave correction. Can the $100/bbl give in?
GOLD dipped 1.70%, turning more impulsive to the downside with a 5th extension also at play. On an intraday basis, however, the yellowmetal is not holding its grip, and it’s pointing to a fresh low already.
The Mexican Peso rose some 0.50% against the #dollar but it’s up 3.15% since the pair ended its wave (2) correction at 21.50. Further downside below 20 would add significant bearish momentum. Can it get there?
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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