Daniel_Kostecki

Daniel_Kostecki

The E-mini S&P 500 futures firstly has created a potential falling wedge pattern and secondly an Elliott wave impulse structure. We have mentioned these patterns in our previous analysis. Currently, after the wedge breakout end creation of the strongest wave in a whole impulse - wave 3 - we may observe a potential correction labeled as wave 4. Thanks to the...

Daniel_Kostecki

In our recent analysis, we have mentioned that the EUR/USD currency pair may create a potentially more complex correction. The whole corrective movement could be considered a wave 4 in a larger structure within an impulse wave. According to the Elliott wave theory, the sub-wave iv could be finished with the confirmation of rising above 1,1695. So if the upper...

Daniel_Kostecki

The upper limit within a wedge pattern has been broken on the E-mini S&P 500 futures chart. It seems that the breakout took place with a significant strength of the bulls. This type of fast upward movement may be labeled as a potential wave 3 and is known from the Elliott wave theory. Key support seems to be placed at 3221 pts. and possible next resistance could...

Daniel_Kostecki

The price of silver has significantly collapsed this week. It seems that the decline in recent days is the biggest drop since 2011. However, the whole correction could be in line with the previous assumptions about simple ABC correction. Currently, the market is testing the equality of corrective waves labeled as wave A and C. The C wave has reached the lower...

Daniel_Kostecki

The price of gold has dropped to the lowest level since the second half of July. As a consequence the ounce of this precious metal is cheaper by about 10 percent then it was in the first week of August. In our recent analysis we have mentioned that on the daily chart a potential triangle pattern has been created. Its lower limit has been broken so the bears may...

Daniel_Kostecki

It seems that the price of Litecoin has finished a five-wave downward structure which has been created since mid-August. According to the Elliott wave theory after the impulse wave, we could be expecting at least an upward correction. The first possible confirmation of such a scenario would be the breakout of the downward trendline. If it is broken we would...

Daniel_Kostecki

In our recent analysis, we have mentioned that the DJIA may create a potential head and shoulders pattern. A few days later the trendline and the support line had broken which could confirm the mentioned pattern. It seems that the broken support at 27196 pts could be a possible resistance right now along with the broken trendline and an upper limit within a...

Daniel_Kostecki

We are still waiting for a potential breakout on the gold market. The price has been consolidating since mid-August. The consolidation looks like a potential symmetrical triangle pattern which is labeled as “abcde”. This pattern may be a part of a larger corrective structure labeled as ABC. According to the Elliott wave theory, wave B may be a triangle pattern....

Daniel_Kostecki

Looking on the daily chart of the Dow Jones Industrial Average we could spot a potential head and shoulders pattern which has been creating under a key resistance - the bearish gap from February. If the gap holds the market could move lower and break the trend line and the support at 27196 pts. Near this support, a potential neckline may be located. It seems that...

Daniel_Kostecki

It seems that the Japanese Yen has been strengthening since the beginning of September. The USD/JPY currency pair has broken key support levels at 105,78 and at 105,10. As a consequence, the market has reached the lowest levels in two months. From the technical point of view, the broken support at 105,10 could be a potential resistance right now. It seems that...

Daniel_Kostecki

Recently we have mentioned that the price of Bitcoin has created a potential 20% correction which could end at strong support. The support has been set by previous tops and also by the lower limit within the upward trend channel. The price has respected these two levels and bounced back to the main trend channel. Currently, if the nearest potential resistance at...

Daniel_Kostecki

In our previous analysis, we have mentioned two possible price targets for a corrective movement. One of them has been set as equal to the recent largest decline observed in the first half of June. The market has dropped near 3300 pts. where potential support occurs. What is more in this area the lower limit within an upward channel has also been set. In the...

Daniel_Kostecki

An inverted head and shoulders pattern could be spotted on the H4 chart of the Nasdaq 100 index. Left and right shoulder has stopped near the same level and the head has created a bottom at a potential support level of 11 000 pts. H&S pattern typically might be considered as a trend reversal pattern so if the level of 11 547 pts. is broken we could expect another...

Daniel_Kostecki

In the recent market analysis, we have mentioned a potential extended irregular correction on the ETHUSD pair. The correction labeled as ABC may be finished if the price breaks the resistance at 370 USD. If it happens we may expect another impulse wave within the main trend channel. Its upper limit could be a possible target for potential upward...

Daniel_Kostecki

Looking at the daily chart of the gold futures we may spot that the price has found potential support at 1911 USD. This level could also be a possible lower limit within a triangle pattern where the upper limit is set by the upper limit within a downward trend channel. If the support also set by the trendline is broken we may expect another decline which could be...

Daniel_Kostecki

The S&P 500 index has been approaching a key trendline drawn through the recent lows. However, the current corrective movement looks like the one observed at the beginning of June. The market has retraced about 9% from the top. If history repeats itself the 9% correction may lead the index to the previous top at 3235 pts. This could be equality in percentage...

Daniel_Kostecki

An extended irregular correction may be spotted on the ETH/USD daily chart. The irregular correction consists of three main waves labeled as “ABC” and three sub-waves within wave “B” labeled as “abc”. Sometimes the wave “B” could be extended as it could be right now. The potential support for the wave “C” may be an area set by the previous highs at 290,00 USD....

Daniel_Kostecki

The price of Bitcoin has retracted from its recent high by about 20%. This could be a typical correction in an upward movement. However, the price could potentially stop falling in the area of 10000 USD per BTC. Near this psychological level, we could find potential support set by previous highs and by the lower limit in an upward channel. If this area is...