Gold Next Target 1922 or 1929? check IdeaYesterday we saw that when the market broke below 1916, the market went down further, and we met our target of 1903.
After that, the market went down further, and now the market is running at 1895, which is our buy zone from 1895 to 1890.
We expect the market to go higher from here, and our target is 1910 or 1916. If the market fails to break the 1916 resistance, the market will go lower, and then 1900, 1890, or 1880 if the market breaks the 1916 resistance.
So the market will go higher, and the target is 1922, 1929, or 1946.
1895–1890 is our buy zone.
If gold breaks the 1890 support, it will go further down and may reach 1886 or 1880.
If it breaks both of these supports further, the next target is 1870 for gold.
Waveanalyses
Gold Target 1903: Still Available? Check AnalysisAs we mentioned in our previous analysis that our next target is 1903. Already our three targets 1928, 1923 and 1916 have been hit.
Because we believe that if the market breaks the 1929 resistance, the next targets are 1936 and 1945, and if the market breaks the 1916 support, our next targets are 1908 and 1903.
If the market breaks the resistance of 1929 and goes up, then the market will back up between 1936 or 1938 or go up between 1945 and 1947 and the target is still the same as 1903.
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Now, gold goes up? or Still 1903 Target AvailableAs we said in one of our analyses yesterday, if the market breaks 1916, then the market will go down further. We saw that the market actually went down, and now the market has pulled back a bit and is up to 1916.
We expect the market to go lower now and meet our target of 1903.
If you like our analysis, then you can boost our posts. You can leave a comment in the comment section.
Good luck and best wishes to everyone.
Aurora: Electrified ⚡Aurora continues its electrifying trajectory. The price dipped further into its inactive target zone during the last trading week and is now visibly striving to resume the primarily expected uptrend. These efforts should soon yield bullish results. Aurora’s next target, the resistance at C$1.59, lies approximately 60% away. This resistance must be surpassed to grant wave (1) in magenta, its well-deserved peak a bit higher. An intermediate correction is expected to pull the price back slightly.
Disney: Bears are back! 🐻After an optimistic start to the first half of September, the Disney share price has been dragged lower. This development is in line with our expectations, as the price should fall to the green target zone between $73.84 and $54.04 in order to place the low of the green wave (II) there. Only then should there be a rebound that can be capitalised on with long positions opened in the green zone. An alternative would be for the price to break above the resistance at $103.77. In this case, which we give a 34% probability, the low would be the one already placed with green wave alt.(ii)
Wheat: Harvest time is coming soon! 🌾🚜The price of wheat is currently moving very much in line with our expectations and will soon reach our turquoise target zone between USX 560.60 and 531.10, where the low of the magenta wave (b) is expected. Then we should finally see a reversal and a broad-based rise to USX 807.25. Should the price fall below this zone, we would not change our scenario significantly, but would only expect a move further towards the magenta target zone.
Ebay: Tug of War 🪢The Ebay share is currently experiencing a tug of war between bears and bulls. In our primary scenario, the bears should prevail and push the price to the green target zone between $37.48 and $29.58 as part of the green wave . Having placed the low, the price can then rise above the resistance at $52.23.
Lam Research: Back in the Saddle! 🏇LRCX is moving south again in line with our primary expectation. The price should now fall below the support at $299.59 with its gray wave c until it ends in the white target zone between $279.57 and $156.62, thus completing the superior white wave (II). Our alternative on the upside has lost some probability but remains in place with a chance of 38%. This scenario predicts an overshooting wave alt.b in gray on a break above the resistance at $726.53 before the price moves lower, as in our primary expectation.
Cocoa: On a diet 🚫🍫With the recent surge in cocoa prices, we’ve observed the completion of the white wave d as forecasted in our primary scenario. Given this development, our projections suggest an impending decline characterized by a magenta five-part wave, targeting $2900. Nonetheless, it's essential to consider a 40% probability that the price might reach a slightly higher peak before initiating the expected descent
Broadcom: Gather momentum! 💪Broadcom stock is in a downtrend, but we believe this is part of the current substructure that should end soon. The turquoise five-part move should still reach around $1040 in the long term.
However, it is essential to remember that the stock would fall further if it breaks below the support at $812, which we consider 36% probable.
WTI: Unstoppable 🚀WTI is riding a robust bullish wave, propelling it to its highest levels in 10 months. In our analysis, we anticipate that, to complete the blue wave , it must surpass the resistance at $93.74. Subsequently, a noteworthy descent is in the cards. It’s essential to note that a dip below $73.89, though with a 38% probability in our estimation, signifies a further decline within the green wave alt. .
Occidental Petroleum: The Bulls are back! 🐂In the Occidental Petroleum chart, bulls have displayed renewed strength since early September, which needs to be sustained. The turquoise wave B is expected to reach higher, stopping just shy of the $77.13 resistance level. Following this peak, substantial declines are anticipated, potentially dropping below $54.35. Should the price manage to break above the resistance, though we deem it only 34% likely, it would overshoot the turquoise wave alt.B. However, this doesn't alter the bearish outlook that follows.
DOW: Downhill ⛷️Within the turquoise B wave, the Dow is currently in a downtrend. We expect this decline to continue to the turquoise target zone between $51.53 and $48.47, where we expect the reversal to occur. If the bulls prevent a decline until then and push the price above the resistance at $56.49, which we consider to be 34% probable, the price would establish the high of the magenta wave alt. a little higher.
Coffee: Caffeine's about to hit ☕The coffee price has been moving downward since February last year within the framework of the superior wave Y in turquoise. In our primary expectation, however, this descent should not last much longer. In the orange target zone between USX 144.40 and USX 136.40, it should come to the low, followed by subsequent rises. Only falling below the zone would put a spoke in the wheel. Then, the price would have to drop much further within our 35% probable alternative before the reversal sets in.
S&P 500: Back on track! 🛤️Following a significant decline, the S&P 500 index has rebounded. We anticipate further upward momentum, potentially breaking through the 4634-point resistance. Conversely, a price decline below 4365 points would trigger our alternative scenario (35% probability), creating buying opportunities within the magenta target zone spanning 4324.25 to 4263.25 points.
BOIL: One more climb to go 🏔️BOIL's price has successfully wrapped up the magenta wave (b). Looking ahead, we foresee an ascent in the fourth leg of the yellow five-part wave, targeting the yellow Target Zone between $116.87 and $334.93. Following this ascent, a substantial decline is expected, bringing the price down to around $23, signaling the conclusion of the white wave (II). This yellow Target Zone presents an opportune moment for initiating short positions to capitalize on the anticipated bearish movement.
Curaleaf: Rocket launch 🚀Curaleaf's stock price has experienced a rapid increase, surpassing the resistance level at C$5.68. It appears highly likely that the stock is currently within the orange wave iii, which is anticipated to extend beyond C$8. However, this upward movement might not be as meteoric and could follow a more gradual trajectory.
Caterpillar: Metamorphosis 🐛🦋The Caterpillar share price has been experiencing ups and downs lately and has not quite been able to approach the resistance at $293.88. However, we anticipate that this breakthrough is imminent. With the low placed at the end of August, the price is currently in the turquoise wave 5, which should reach the green target zone between $325.21 and 358.93 and represents the end of the superior white wave (I). A fall below the support at $250.89 would put a spanner in the works. Then, our 36% likely alternative would activate, and the price would move further down.
Meta: On a detour ➡️Meta’s price is moving as if it had already completed the correction. In our expectation, however, it is only a slight detour, a substructure of the green wave (2). For the low of the green wave (2), there is still some way to go on the downside. We expect a move down to the green target zone between $209.15 and $140.02
Blackrock: Smooth as silk 🪡The price of Blackrock is currently experiencing a very stable rise, which is precisely what we expected. A large part of the turquoise wave B should be completed by now. After the high is placed, a descent to the green target zone between $613.07 and $491.98 will follow. However, if the current rally extends too far and breaks above the resistance at $785.65, which we consider 35% likely, our alternative scenario will be activated.
Atlassian: The hunt for the annual high 🏹We now locate the TEAM stock in the blue substructure of the superior pink wave (Y). Here, within the blue wave (b), a new annual high should be ahead for now before it then comes to a reversal around $225 and an apparent descent sets in. Should the rise continue what we consider 33% likely, our alternative scenario would activate, and the stock would go significantly higher.
Uranium Miners: No more mining for now ⛏️The Uranium Miners ETF has now reached the level where we expect the top of the magenta wave (b). Based on this development, we expect the wave to end and transition to significant declines, which should go below $24 and end the turquoise wave 2. If, contrary to our scenario, we see a rise above the resistance at $41.23, our alternative would activate with a probability of 35% and within the magenta wave Alt.(b), the next target would be the magenta target zone between $49.72 and $57.67.