DOGEUSD promotes the currency as the “fun and friendly Internet currency”. Software engineers Billy Markus and Jackson Palmer launched the satirical cryptocurrency to make fun of Bitcoin and the many other cryptocurrencies boasting grand plans to take over the world. Dogecoin had established a dedicated blog and forum, and its market value has reached US$8 million, once jumping to become the seventh largest electronic currency in the world.
Platinum (PL) continues to trade sideways and the metal is in the process of forming an important low before the next major bullish cycle starts. The Federal Reserve has aggressively hiked rates multiple times, creating a sideways to lower movement in the commodity sectors. There’s however no doubt that the longer term outlook of commodities is bullish. At this stage, there’s enough number of swing to call the daily and monthly correction completed. However, we still need more data and evidence to call the correction completed. In the meantime, we still give a possibility for the metal to extend lower until the market says otherwise. Below is the update of the Elliott Wave chart in Platinum.
Good day Traders and Investors. In today’s article, we will look at the past performance of 4 Hour Elliottwave chart of Nike Inc. ($NKE). The decline from 08.16.2022 high unfolded as 5 swings which created a bearish sequence in the 4H timeframe. Therefore, we knew that the structure in $NKE is incomplete to the downside & should see more weakness in 3 or 7 swings against 08.16.2022 peak. So, we advised members to sell the bounces in 3, 7, or 11 swings at the blue box area. We will explain the structure & forecast below:
Short term Elliott Wave view suggests correction from 9.28.2022 high ended at 109.53 as wave (4). Internal subdivision of wave (4) unfolded as a double three Elliott Wave structure. Down from 9.28.2022 high, wave W ended at 110.055 and wave X ended at 113.942. Index then resumes lower in wave Y to 109.53 and this completed wave (4) in higher degree. Dollar Index has turned higher in wave (5) but it still needs to break above previous peak on 9.28.2022 at 114.78 to rule out a double correction.
Capri Holdings Ltd. (CPRI) designs, distributes and markets premium women's and men's clothing, footwear and accessories under the Versace, Jimmy Choo and Michael Kors brands. Capri is one of the ten largest companies in the luxury industry. The company was founded in 1981 and until 2018 was known as Michael Kors Holdings Ltd. The head office is located in London.
Canadian Solar Inc. (CSIQ) is one of the world's largest manufacturers of solar panels and consumables. The company accounts for 10% of the global solar module market. Canadian Solar operates in two segments: CSI Solar manufactures and sells inverters and batteries for energy storage, and Global Energy is focused on developing projects related to energy storage. The company was founded in 2001 and is headquartered in Guelph, Canada.
In this technical blog we’re going to take a look at some Elliott wave charts of yellow metal (Gold). Gold formed a high on October 4, 2022 (1729.46) and started declining. Decline took the form of an impulse, we will explain the internals of this impulsive decline, the bounce which we expected and current forecast.