Good evening to one and all, the Lord’s Blessings to you tonight.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A three wave drop into wave (d) continues today.
And now it seems that wave ‘b’ of (d) is drifting sideways in a contracting triangle pattern.
This triangle will finish a five wave pattern with a small rise back into 1.0900 again
And then wave ‘c’ of (d) is set to fall towards 1.0750 again.

Tomorrow;
This triangle should complete very soon.
I expect wave ‘c’ to drop quickly and we could have a completed pattern in wave (d) by the end of tomorrow.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Its not a very convincing start to a rally in wave ‘iii’ of (v) today.
I am willing to stick with this pattern as long as the wave ‘ii’ low continues to hold at 1.2660.
A break of that level will will cast some doubt on this idea for wave (v).
but for the moment,
this pattern is still viable and wave ‘iii’ of (v) must continue higher.

Tomorrow;
Watch for wave ‘ii’ to hold at 1.2660.
A break of 1.2800 again will confirm this pattern.
The wave (iv) low must hold at 1.2588.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

A holding pattern is ongoing in USDJPY again today.
The price has not dropped much off last weeks highs at wave ‘iii’,
and the price range continues to contract around 144.50.
So I am suggesting that wave ‘iv’ is tracing out a possible triangle pattern now.
and once this completes above 144.10 again,
then wave ‘v’ should push higher again as shown.
The minimum target for wave ‘v’ stands at 145.07 with a break of the wave ‘iii’ high again.

Tomorrow;
Watch for wave ‘iv’ to complete overnight and hold above 144.10.
Wave ‘v’ of (v) of [iii] should then trace out five waves up towards 146.00 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Can we start on the 4hr chart tonight for a change.

The wedge pattern in wave (c) is very well developed off that wave (b) low at 31433.
The internal action within wave (c) is quite choppy and overall quite weak.

Although I have not labelled this wave (c) rally as an ending diagonal,
there is an overlap of the wave ‘i’ high by the wave ‘iv’ low.

this may well be a symptom of an exhausted pattern.
Much like a truncated fifth wave can occur at the very end of a long rally.

The point being,
This rally looks tired and long overdue a top.
This has all been seen before.

The action today is not much to write home about!
The market has basically gone sideways this week.
And think wave ‘5’ of ‘v’ is tracing out a holding pattern in a possible fourth wave.
this action suggests wave ‘5’ will pop to a new high above 34570 to complete.

Tomorrow;
Watch for wave ‘5’ to turn higher again to complete five waves up at a new high.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Todays action in gold has not changed the overall picture really.
wave ‘i’ of (c) managed to make a new high at 1934 today,
And now the price has turned lower again to begin wave ‘iii’ of (c).
Wave ‘iii’ will be confirmed with a break of 1892 again.
and the minimum target for wave ‘iii’ lies at 1859 where wave ‘i’ and ‘iii’ reach equality.

Tomorrow;
Watch for todays high to hold at 1934.
wave ‘iii’ down should now continue lower in five waves.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Another day and another count becomes clear in the crude oil market.
The recent rally has gone too far now to consider Mondays wave count valid anymore.
I have switched to a new pattern for wave (ii) blue now.
and this recent rally is viewed as wave ‘c’ of (ii) in this scenario.

Wave ‘c’ will break above the wave ‘a’ high at 72.68.
and the price will hit the 78.6% retracement of wave (i) and close out the channel at 72.80.
That gives a nice tight target area for this pattern to complete at.
I will look for a top and reversal into wave (iii) off that level again.

Tomorrow;
Watch for wave ‘c’ to top out at 72.80 and then we can look for wave ‘i’ of (iii) to turn lower again.
The high at wave [ii] must hold at 74.37.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

wave ‘iv’ of (v) looks complete at todays lows,
and now we have a small spike higher to begin wave ‘v’ this evening.
The pattern in wave (v) will complete at 4460 with a new high for this rally.
The first target for wave ‘v’ pink lies at 4485.
this is the level where wave ‘i’ and ‘v’ reach equality.
So lets see if this pattern will complete the rally in that area.
At that point the larger pattern wave (v) will be done,
and we can only wait to see if the market turns lower again off that point.

Tomorrow;
Watch for wave ‘v’ of (v) to break above wave ‘iii’ to finish off the larger pattern.
Its a waiting game from there.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The high today broke above 23.20 and that has invalidated Mondays wave count for wave [c].
The pattern into todays high is still a three wave correction,
and because of that I have labelled the action off the wave [b] high as wave’s (i) and (ii) of [c].
If this count is correct,
then the target for wave [c] just got much lower.

wave (iii) of [c] could fall into the 20.00 handle pretty easily if this pattern proves correct.
and even if wave (iii) only reaches equality with wave (i),
that will give a target for wave (iii) at 21.00 again.

The point here is that this larger degree wave count is getting too close to call here.
the larger wave ‘2’ must hold above 19.90.
If that level breaks then we are into a whole different pattern with a much lower target.
Silver is not out of the woods here yet.

Tomorrow;
Watch for wave (ii) to top out very soon.
A drop back below 22.30 again will signal wave (iii) of [c] is underway.