COMMODITIES - Resurgence! - Video Update! June/July 2016
Back in January this year, WaveTrack International’s annual 2016 Elliott Wave Commodity forecasts forewarned of an imminent and major low being approached for all of the main sectors, Base Metals, Precious Metals and Energy/Crude Oil contracts. It didn’t take long for this to be realised! Led slightly earlier by Precious Metals, Gold and Silver bottomed the previous month, in December, closely followed by double-bottom activity in Crude and Brent Oil – Base Metals also responded in major reversals although less enthusiastic in their subsequent advances. Gold has since traded higher by +24% per cent, silver by +32% per cent, Crude Oil by a massive 92% per cent and copper so far lagging but higher by +18% per cent. Some of the commodity equities we identified as big buying opportunities, especially those for precious metals came good with Newmont Mining up by a massive +194% per cent!
Precious and Base metals have since given back some of those initial gains but the BIG MESSAGE derived from these initial movements is this – we can expect even higher levels during the next several years. In this mid-year update, we’ll be updating all of the contracts shown last January, plus a few new correlations that we hope will distil and clarify some of the ongoing trends –
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