GG, AM, NEM, CRB, XME, COPX, GDX, XAU, Copper, Aluminium, Lead, Nickel, Gold, Silver, Energy Copper, Lead, Zinc, Nickel, Aluminium, Gold, Silver, Crude Oil, Brent Oil

COMMODITY OUTLOOK - Iron Ore set to Accelerate Lower - Base Metals to Follow Downturn - Energy consolidation within Uptrend

In This Edition: This month’s report combines our usual portfolio of Base & Precious Metals/Energy with an updated look at the pattern development of Iron Ore prices. Alongside Copper, Iron Ore is one of the cornerstone commodities that offers a glimpse into the future growth/decay development of the global economy, its alternating peaks and troughs. What we see supports last month’s report which hinted of an important interim peak in Base Metal prices. Following Copper’s -8.6% decline during September, last month’s rally ended up breaking to a higher high. This doesn’t negate the effect of an approaching peak within the medium-term uptrend, it simply prolongs it. But time is running out. Iron Ore resumed its downtrend last February and it’s now set to accelerate just as Base Metals form corresponding peaks, positioning themselves to begin a multi-month corrective declines.


In precious metals, Gold and Silver remain in a negative run since forming highs last September. Declines are expected to extending through November and perhaps December, but these are the final sequences of counter-trend patterns. They turn bullish afterwards, with advances breaking to higher-highs.


The energy sector is pulling lower thorough the XLE Energy index but overall, the outlook remains very positive. The underlying Crude and Brent oil contracts are approaching interim highs following advances from the late-June lows. Should resistance be confirmed, it will signal a 2-month retracement decline of around -19% per cent. But should Crude oil sustain a break above this year’s high of 55.24, then this downside risk will be averted. 


 


Mifid II – About WaveTrack International


Did you know that WAVETRACK INTERNATIONAL is the only independent ELLIOTT WAVE research company in the world that holds an advisory license and is a regulated financial company? This is all-so-important as new European Mifid II regulations kick-in from January 2018.


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Our advisory license allows us to engage with institutional clients directly. Either, one-to-one or one-to-groups providing analyst access. The advantage is being able to discuss price forecasts that are specific to your portfolio, explaining the logic behind each result, answer your questions and discuss trading strategies.


This type of engagement with research analysts and portfolio fund managers goes on each day among investment banks and their clients. WaveTrack offers this service via our Live Update Forum too! Mainstream Elliott Wave analysis is somewhat limited because it must only be distributed through public media channels. This type of service does not require a regulatory license.


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If you are a portfolio fund manager and haven’t had the same institutional level services translated into Elliott Wave research before, then contact us for a trial. Our existing clients include Investment Banks, Pension Funds, Total/Long Only/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions. You’re in good company so join us now!


 

29/10/2017
26 pages
EN

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​WaveTrack International provides bespoke intelligence for Asset Management Corporations, Pension Funds, Total/Absolute-Return/ Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions. The ‘deterministic’ qualities of the methodology used often translates into results that are dynamic and – outside consensus estimates. This is suitable for individuals who seek unbiased market research which is ‘technical, quantitative and strategic’ for their investment decision making. WaveTrack’s analysis and research is especially relevant for medium/long-term investment strategies.


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