Copper Short term view

copper has formed a double top at 9800 levels and even broken the short term trendline , re-test of resistance done today . break of 9300 levels would open down side targets of 8900 levels

silver short term update

 

 

Silver has formed a short term top at 31.15 $ and looks like has started to correct down in set of 5 waves with the first wave over at 27.7 $ and wave 2 at 29.8 , the third wave looks like headed for sub 25 levls . With Final target of 22.4 (wave5)

Gold Silver Update

Unlike Gold, Silver seems to be completing a final v subminor up. This seems to be a completion of the leg up from Nov 2009. And considering the large exponential blow off that we illustrated prior and Silver topping the Jiseki rankings we continue to look at any leg up on Silver now as the last leg after which the white metal should fall back into 22.40 previous iv wave supports. Gold also seem to be in the final Y minor leg up and should follow silver down.

Done in association with orpheous Asia Intraday Service (Ticks Global)

GOLD.SILVER.DOLLAR.OIL

Gold has a clear five wave impulse down. The B wave should end near 1,380 levels after which the C wave down to new lows below 1,320 should begin. Silver looks more like a 3-3-5 structure. We see the B wave complete and prices starting a C leg lower till 25. OIL is also stagnating in a B wave, which should resolve lower. Dollar index remains in B wave till price clearly move above 79.55 previous highs.

(Article written in association with Orpheus CAPITALS -- ticks Global Intraday Service)

http://orpheus.asia/orpheus/ids.php?serviceid=23

Forex update JPY.EUR.GBP.AUD vs. USD

USDJPY. Prices have completed a five wave structure suggesting that the bounce back could push back up till previous 4 wave levels at 86.
EURDUSD is in a 2 wave counter trend wave that should not push above 1.38-1.39 resistance levels. After the ongoing bounce prices should move back 1.3238 levels.
AUDUSD. The price Reversal below 1.000 suggest that B wave is also over and prices are headed down till 0.9350 . The price action also has a potential Head and shoulder neckline near 0.9700. A break here will also confirm the preferred negative view.
GBPUSD. Prices have completed the Wave B up at 1.5900 levels and are headed down till 1.5600.

LME Nickel Medium term view

The B minor corrective (counter-trend) seems over and now the prices should move lower in the C wave back below previous low at 17,000. Sub 24,000 we continue to look lower.

LME Nickel Short term view

LME Nickel breaks the Medium term Trend Line with a Strong Gap Down , Intraday Fills back the Gap and The Support Becomes Strong Resistance and prices Reverse , If In Medium Term Nickel Fails to Cross 24300 lvls , Can On Downside correct till 22400 lvls or 21900

Gold Near Resistance Zone

Gold Near important Trend line Resistance in zone of of 1380-1387 $ ,
The Rsi is Extremely overbought and Showing Negative Divergence . This Resistance is Almost near physiological Resistance of 1400 $ ,
This even co-incised with wave counts of Major 3 -5th wave Extended , Suggesting we are Near top. Will Look for key Reversal Here Any time soon , Opening Downside targets till 1310--1265 $

Dowjones Potential Head & shoulders , Might have topped out Yesterday

Dowjones Could Be Heading lower towards price Target of 9950 With making of potentail Right Shoulder and than Finally to 9200 later on . The above view Is negated if prices Moves above 10700 levels

Gold Short term view

Prices Head For Crucial Resistance Zone of 1288-1295$ levels , Almost Near the physiological Resistance of 1300 $ , We Expect The prices to Reverse From the Current level Looking at the Negative Divergence on RSI and Resistance coming up From upwards End of Rising Wedge ,