Bosphorus_Capital

Bosphorus_Capital

5 waves up seems complete in GPRO. We would be technically more certain of that when the low of 4 at 76.22 is taken out and definitely certain when (4) at 63.45 is taken out. According to elliott wave principle 1st waves are usually retraced 61.8 % which stands at 54.46. A bear market lasting at least a few months can be expected in GPRO.

Bosphorus_Capital

The BTCUSD market has come down 65% in nine months and is in a secular bear market which is characterized by Cycle wave 4. Cycle 3 lasted approximately 23 months. Cycle 4 can be expected to last at least that long which would take us easily into 2016. Cycle 4 can be expected to finish around previous wave 4 which was at 70s. The first major bounce could be...

Bosphorus_Capital

Gold has an equal legs target at 1192 to finish wave C of triangle D wave. However, the downward momentum seems to have stalled. Although a final spike to 1192 cannot be ruled out, it seems that gold is at or very close to a mid term bottom. The ensuing wave would be wave E of triangle targeting 1270/1320 area.

Bosphorus_Capital

While in the long term I'm bearish for gold, I believe we will see higher prices until March 2015 to the tune of 1270/1320. Gold seems about to embark on wave E of 4 with certain signs of bottoming on intraday charts. One more dip towards 1191 cannot be ruled out though.

Bosphorus_Capital

2.25 was critical and close above it was decisive. It seems that next week, the Gann resistance will give way and we will find ourselves at 2.32. At that time, probably the CBRT will intervene and increase rates.

Bosphorus_Capital

Is the endgame going to be hyperinflation or deflation? Hyperinflationists took gold to new highs with the onset of super easy money starting with 2003 and broke all time records just shy of 2000 with QE1 and QE2. Despite the speed with which M1 is being created in US, China, Japan, EU and UK (through various QE), monetary velocity is still decreasing in the...