Image Source: PixabayUpdated Analysis of Commodity Markets and Elliott Wave: In the realms of commodities, the US Dollar and 10-Year Treasury yields are anticipated to experience a slight increase, while bonds are projected to decline, finalizing Wave C of (B). For Gold and Silver, a downward correction is expected from their current peaks as part of Wave c), concluding this correction phase. Following this, a Classic TradingLevels pattern may present a favorable long trade opportunity.In the cryptocurrency sector, for Bitcoin and Dogecoin, it’s advised to adjust stop-loss orders to the break-even point. As these cryptocurrencies near their previous highs, a temporary plateau may occur, though a gradual upward trend is anticipated.The outlook for base metals presents a varied picture. Iron Ore is forecasted to decrease, whereas Copper and Uranium are undergoing correction phases. Despite this, a promising long trade opportunity in copper futures is under consideration.Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence – AFSL 317817
Source: tradinglounge.comVideo Length: 00:24:45Video Chapters
00:00 Bitcoin (BTC) / DOGE Coin.
05:29 US Dollar Index, DXY / TLT Bonds. US Gov Bonds 10 Yr Yields
08:28 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG
12:54 Base Metals: Iron Ore, Copper XCU/USD. Uranium URA ETF
18:02 China Index
20:14 Energy: Crude Oil WTIOIL / Natural Gas NG
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