By Elliott Wave International There’s a widespread belief that rising oil prices are bearish for the main stock indexes and falling oil prices are bullish for stocks. That belief is reflected in this Sept. 5 CNBC headline:...
USD/JPY experienced a failed attempt to break below the bottom of the rising price channel on the 4-hour chart and rebounded from 145.89. This suggests that the currency pair remains in an uptrend that commenced from 137.23....
EUR/USD is currently contained within a falling price channel on the 4-hour chart, indicating a downtrend that originated from 1.1275. As long as the channel resistance continues to hold, the recent bounce from 1.0685 could be viewed...
Canopy Growth Corporation is a Canadian cannabis company producing medical and recreational marijuana. The company owns brands like Tweed, Deep Space, Wana, Vert, Spectrum Therapeutics and others. Founded 2013 and headquartered in Smiths Falls, Ontario, Canada, one can trade Canopy...
In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of GDX. The decline from the 18 July 2023 high unfolded as an impulse sequence and showed a lower low sequence within...
By Elliott Wave International As you may know, in every bull or bear market, some stocks or sector lead while others follow. So, the “leadership” in the stock market works both ways — in uptrends and down....
USD/CAD is currently approaching the support of a rising trend line on its 4-hour chart. If this trend line support holds, the recent pullback from 1.3694 could be considered a consolidation phase within the larger uptrend that...
USD/JPY is currently approaching the support of a rising price channel on the 4-hour chart. If this channel support holds, the recent pullback from 147.87 could be considered a consolidation phase within the larger uptrend that started...
AUD/USD recently experienced a breakdown below the 0.6363 support level. However, the currency pair rebounded from 0.6356 and reached as high as 0.6449. Based on this rebound, it is likely that a further rally could occur in...
GBP/USD has broken above the falling trend line on its 4-hour chart, indicating a potential completion of the short-term downtrend that started from 1.2745. The price reached a low of 1.2444 before the breakout occurred. Based on...
