It is amazing to identify patterns, be it advanced Elliott waves or simple patterns. It helps to generate good returns. Below is the research which has helped our client to make good profits in few days based on Elliott wave pattern.
DJIA Daily chart :(As on 9th May 2018)
Following is a gist of the research published on 9th May 2018
As shown on daily chart, 50 day EMA continues to provide good resistance area and prices are maintaining resistance near these levels; a decisive break above the same will drive prices higher towards 24800 as long as 23500 is intact on the downside. Currently, wave (f) is on-going of a diametric pattern. in terms of internal counts wave (f) is going through Triangle pattern, minor wave d completed on the upside around 24800 which will now act as important resistance levels; and Wave b (red) of e is ongoing an important resistance placed at 24500 levels. Post the completion of the same next leg on upside should start!
DJIA Daily chart: (As on 22th May 2018)
As shown on daily chart, post making a low in form of wave e prices witnessed an up move towards higher level giving a decisive break above b-d trendline which confirmed that wave (f) has completed on downside and next leg in form of wave (g) has started on upside. As of now wave a of (g) might have completed on the upside at 25000 price levels and we are currently seeing consolidation in the form of wave b. Post a break of this range bound action the upward movement should continue for DJIA and we expect prices to reach higher levels of …..
In short, trend for DJIA is positive and break above high at 24800 can drive prices higher towards …..
The above research shows that when you combine the various technical analyses it increases your probability of going with the trend. To know what the next move will be subscribe to our Global report under the name of “The Global Waves STU” which also consist of EURUSD, Comex Gold and Comex Silver.