WTC
On REQUEST: I will start here WTC-monthly LT – 40 year. A chart I haven’t looked/touched for quite some time.
Observe a GIGANTIC BLACK BULL FLAG which BO-UP during 2020 and completed a BT on the BLACK FLAG. And one could or should expect HIGHER from here; but will it? Observe also a Light Blue FORK and due to former touches need to be respected! Charted CYCLES are interesting but a simple eye can make one doubtful.
But when I ADD a GREEN CYCLES the charted cycle makes more sense and gives fitting. Below same Monthly chart where I am adding GREENs. I admit it get a little messy but a trained eye knows how to look and separate the ‘formations’.
The charted cycles has a LITTLE PINK cycle with a (intermediate) CYCLE LOW coming into July-2024; +/- 1-2 months as this is a LT-monthly chart. Interesting about this same Little Pink Cycle is that LAST HIGH met this Little Cycle Top and as WTC came from GREEN CYCLE LOW such could have been expected. But hey, everything is WOKE and thus volatile so WTC can easily go South as well; from one extreme to the another extreme which actually has been displayed before; see chart.
If charted 2nd smallest Cycle has a LOW coming during July-2024 and WTC goes volatile from one extreme to another then the GREEN PO BOX seems a possibility especially when markets seems to be solely bullish on WTC and therefore it will go south!
But let us ZOOM in and check the Weekly for WTC.
Here the charted Brown-cycles suggest WTC is at a TOP. While on the daily chart (not presented in this post) there is a Large GAP below and WTC could possibly GAP DOWN leaving an Island reversal; maybe – just guessing.
Observe a GREEN FORK. Best I came up with is this and gives unsatisfied feeling as we would like to see a TAG on the upper line of the Fork which means it could tag the W-MA(50) @ 87.68 possibly intraday. If such would occur … then a SHORT-position in WTC might be taken with this W-MA as a line in the sand (based on a weekly close). The little GREEN CYCLES seems fitting and a LARGER CYCLE also projects a CYCLE LOW in 2024; April-2024 and meets the Monthly Cycle-Low. Nevertheless, observe Vertical Fibonacci lines and next comes September-2024. Vivid followers of my Posts knows that I have Sep/Oct-2024 a MAJOR CYCLE LOW for COMMODITIES. Therefore do not discount this Vertical-FIB. Possibly we might see DB (double bottoms; April and Sep/Oct-2024 timeframe. Same as we have a DT (double TOP; 2008 & 2020).
The WTC-weekly shows a possible PO in the 10-ish area while WTC-month shows possible a Low between 14.30 – 10.xx. Only in due TIME can be inspect anew!
As for indicators- weekly: 4-horseman (TSI) and TRIX did positively crossed-over but LT-TSI (3rd+4th) and TRIX are still below ZERO and when taken SLO-STO and CCI into account a reversal down is to be expected. CCI gives room for a final overbought reading and makes tagging the GREEN FORK While tagging W-MA(50) a possibility.
As for indicators- monthly: While WTC is below RSI (and possibly BT-ing), the 4 horsemen (TSI) reading are crossed over negative while above ZERO-line. Volume seems not to have respected the 2020-uptrend and I consider that a warning for WTC-bulls.
Small note aside: the fact that all charted cycles ends during 2036 does not mean that WTC will end or crash into 2036; possibly yes but possibly it could make an extreme TOP in 2036 as there could be an even LARGER CYCLE eg. DOME starting 1986 where 2036 is a TOP. If that would be true then the WTC-BULL could start as from 2024 in earnest into 2036. Such scenario seems plausible to me when taking many other (commodity) charts into account! That 2024 will be a COMMODITY-LOW and then the Commodity BULL start in earnest. Therefore recent BULLS needs to get slaughtered first!
IMO.DYODD.
Thanks for this, Nightingale.
If I can read your tea leaves, it seems you are saying 2023 bulls are gonna get wiped out; the 2024 bears are going to get wiped out, while the 2024 bulls are gonna be rich, rich, rich.
the leaves says:
– as from 2020-TOP into 2024-Low (april and/or sep-24) = BEAR
– as from Sep-2024-LOW towards 2036-TOP = BULL
This is fantastic stuff!