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ELLIOTT WAVE COMMODITIES OUTLOOK

​This month’s inaugural edition of the EW-Commodities Outlook begins by taking a look at our regular Base Metals, Copper Lead & Zinc. The divergent performance of Zinc as compared to the others is given emphasis in determining whether prices will continue to trend higher or alternatively, will undergo a significant setback. Precious metals have dominated the commodities markets so far this year. Most of the investment banks published consensus bearish forecasts last December/January on the basis of expectations of incremental U.S. interest rate rises – in contrast, an Elliott Wave contrarian ‘buy’ signal was given even earlier, last November (2015) when key mining stocks hit multi-year downside targets and thereafter, began to turn higher – the rest is history. This report discuss what happens next for Gold, Silver and Platinum plus a look at the Gold/Silver Ratio and GDX/XAU. Crude oil was blamed for the effects of January/February’s severe stock market sell-off when it traded down to $26.05. But this was highlighted as ending a multi-year EW corrective pattern that began from the all-time-high of July ’08. Prices have since doubled, up by +100% per cent! Crude oil has since slipped downwards – but is this likely to continue? In which direction is the dominant trend? This question is resolved in the latest EW updates of Crude and Brent oil. We’ll also be taking a look at a couple of mining ETF’s.