Copper Elliott Wave Analysis: Shorter Cycles Expect Further Decline

Market participants have started to question the earlier high earnings growth prospects placed on the “Magnificent 7” stocks. The past month of record low implied correlation among S&P 500 component stocks can increase the odds of a more pronounced spike in the VIX. The S&P 500 is at risk of shaping a medium-term (multi-week) corrective […]

Key Highlights Gold is attempting a fresh increase above the $2,440 support zone. A major bullish trend line is forming with support at $2,400 on the 4-hour chart. Oil prices extended gains and climbed above the $77.50 resistance. The US Consumer Price Index could increase by 2.9% in July 2024 (YoY), down from +3%. Gold […]

Nikkei 225 broke resistance level 33830.00 Likely to rise to resistance level 35500.00 Nikkei 225 index earlier broke the key resistance level 33830.00 (which has been reversing the pair from the start of June). The breakout of the resistance level 33830.00 accelerated the active short-term impulse wave 3 of the intermediate impulse (3) from the […]