Elliott Wave Intermarket Update

December 3 2019 7:31PM

Lima Peru

By Fernando Luna

Hey guys, today BTC looks like its finishing up a triangle that is most likely breaking to the downside. Oil, and the rest of commodities for that matter are likely at the end of long term contractions. The break looks like it also if favoring the downside. The 10-year yield has maintained below the 2019 high and looks to be trending down now once again. All this very deflationary. Stocks are dropping and are nearing support now—should bounce. Gold and silver both are also looking to break to the downside after near contractions on the hourlies. The euro has also been trading sideways on the hourlies and should be breaking to the upside in a fifth wave. Let’s see.

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