The medium-term bear trend in its very late stages :
Platinum is searching for an extreme low on the current levels, which is very close to the target at 824.
The ultimate target is in place around 824, where Minuette-degree first and fifth waves are equal.
Searching for an extreme low :
As shown on this weekly chart, Silver is searching for a significant extreme, as Primary-degree wave A(circle)’s low, around the mid line of its medium-term channel.
The Silver’s medium-term bear trend is approaching its conclusion, since an ending diagonal always terminates the wave structure at a larger degree and a reversal tends to be swift and sharp, retracing back to the origin of the diagonal pattern.
Searching for an extreme low :
Gold is searching for a significant extreme, as the Primary-degree wave A(circle)’s low, surrounding the medium-term channel line.
The Gold’s medium-term bear trend is approaching its conclusion, since an ending diagonal always terminates the wave structure at a larger degree and a reversal tends to be swift and sharp, retracing back to the origin of the diagonal pattern.
The medium-term bear trend in its very late stages :
After an impulsive decline in Minute-degree wave a(circle), Silver will soon mount on the same degree wave b(circle), which will result in a final decline in wave c(circle).
With respect to the ending diagonal pattern, the wave structure of the current decline since late November should be traced out in a three-wave.
The extreme point of bullish ending diagonal might be around 13.49, likely in late December.
Bear trend in its very late stages :
After an impulsive decline in Minute-degree wave a(circle), Gold will soon mount on the same degree wave b(circle), which will result in a final decline in wave c(circle).
Based upon the duration of prior declines in Minor-degree waves 1 and 3, the wave structure of their same degree wave 5 would be unfolded entirely, until late December.
Bearish Outlook :
The Cable’s bearish stance is in place, so that a decline below 1.5027 (Nov. 6) will confirm this bearish count.
The Minuette-degree wave (iii) has potential to decline through 1.4576, where it will achieve the 1.618 times the length of the same-degree wave (i).
Bullish Outlook :
With respect to the waves structure, the U.S. Dollar’s strength in extending advance that followed by the overlapping waves, would suggest that Minor-degree wave 3 is well approaching its extreme high.
The ultimate target for the extending third-wave is 100.28, where it equals 1.618 times the length of the same degree wave 1.
Bearish Outlook :
According to the short-term bearish view, an ultimate decline in fifth wave of an ending diagonal as Minuette-degree wave (v) would terminate the down trend entirely.
With respect to the waves structure, this bullish diagonal will unfold its fifth-wave down until the late December.
Bearish Outlook :
Based upon the short-term bearish view, an ultimate decline in wave v of an ending diagonal as wave (v) would terminate the down trend entirely.
With respect to the waves structure, this bullish diagonal will unfold its fifth-wave down until the late December.
Bearish Outlook :
The Crude’s bearish stance remains intact in weekly frame. The ultimate fifth-wave down would be a sharp decline that will draw prices below the August 24 low at 37.75.
It is expected the market will search for its extreme low until the late December.
Elliott Chart 