Sugar – bulls’ favourite candy

On the 4-hour chart of sugar’s June futures we can see a five-wave impulse to the upside, followed by a zig-zag correction. Wave C of this retracement looks like an ending diagonal, which has just been broken to the upside. According to the Elliott Wave Principle, after every 5-3 cycle the trend is supposed to resume…

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Crude Oil according to plan

On April 8th we published an analysis on crude oil, in which we were expecting a decline soon. We were preparing for a sell-off, because we had a classical 5-3 Elliott Wave pattern. On the chart below you can see how crude oil looked like, when we made this forecast. The next chart will show you…

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Natural Gas down despite Russia-Ukraine. Why?

The tension between Russia and Ukraine has been in the media for quite some time now. Usually when there is a conflict or some kind of a disaster somewhere and prices of oil, gold or gas are rising, reporters are constantly explaining how “the market reacted to the events”. But you do not hear the…

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Coffee is not so strong

Coffee has been in a strong uptrend during the last five months, climbing up from 100 to above 217, which was quite impressive. But as traders we must not get emotional and over-optimistic. Instead of buying just because prices are rising, we prefer looking at the charts, in order to see if they will keep…

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Sugar, so far so good

A month ago, on March 23rd, we showed you this chart from our forecast on sugar: As the chart shows, we were expecting wave B up and wave C down, before the larger bull trend could resume. On the chart below you can see how the situation has been developing ever since. The updated chart shows…

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Crude Oil still corrective

In our previous analysis on crude oil we stated that prices could go higher, if the market decides to make wave (2)/B more complicated. On the chart below you can see that this is exactly what happened. What we have now, looks like a double zig-zag labeled w-x-y. Double zig-zags are counter-trend movements, after which the…

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Sugar trading opportunities

Sugar could provide two opportunities. The fist one is to wait until wave “B red” is finished and sell in order to catch wave “C red” down. Entries should be found around 17.80, stop loss at 18.50 and take profit at 16.10. If we look at the bigger picture we will see that this A-B-C…

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Crude Oil still bearish

Crude oil fell in five waves from 105.20 to 97 dollars. This whole decline happened, despite the Russia-Ukraine conflict and the expectations that it will push prices higher. It happened, because fundamental factors, news and events lag the market and have no impact on it in the long term. And just when everyone accepted that…

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CRB index. Where commodities are heading?

CRB index is an index that measures the overall direction of commodity sectors. The CRB index was designed to isolate and reveal the directional movement of prices in overall commodity trades. The CRB index measures changes in the price of 22 commodities that are believed to be among the first to react to changes in…

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Crude Oil went well

In our analysis from March 16th we were waiting for a decline in wave 5. That forecast of crude oil went well and on the chart below you can see the result. A clear impulse to the downside suggesting that the main trend is pointing south. Trend direction is now expected to reverse for a…

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Cocoa could fall, at least temporary

Cocoa has been in a strong uptrend for over a year. What is more important is that this rise is in five waves. So, having a finished impulse to the upside it is appropriate to prepare for a decline of the same degree. This is why we think that cocoa could fall, at least temporary.…

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Crude Oil outlook update

Our crude oil outlook update will start with our analysis from February 25th, because you should know how our bigger picture scenario looks like. As you can see, crude oil has been trading according to the forecast so far and we will continue to use it as a map for possible future developments. Next we have…

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Copper measures the strength of the economy

Industrial copper is a leading indicator of the economy’s health and moreover the strength of the world’s industry. The uptrend in copper coincides with the overall uptrend in the world’s industry and economy. This commodity took a hit at the end of 2006, shortly before the start of the 2007 downtrend in all industrial indices and…

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Crude Oil steady as it goes

Crude Oil extended its five-wave decline, dropping by more than 5$, from 105,25 to 100,10, despite the Russia-Ukraine conflict. So, from a fundamental point of view, this fast drop-off was rather surprising. But from an Elliott Wave perspective it was naturally expected, as you can see from our analysis on February 25th. As shown below, after…

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Crude Oil’s strength could be deceptive

Crude oil is in its seventh straight week of steady rise, but is it now the time to be a buyer? In order to find the answer to this question, we have to look at the charts. As shown on the daily chart below, the rally from 77.20 to 112.25 is a zig-zag correction (A)-(B)-(C)…

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