Wednesday, 25 November 2020 at 14:50 GMT
Tesla is up but out of wave 4 triangle into the final wave 5, clearly with a five-wave cycle and right at the projected triangle 560 target area. Watch out at this stage!
Wednesday, 25 November 2020 at 14:44 GMT
GBPCAD still looks corrective and now when it touched the upper triangle line for the final wave E of (B), we should be aware of a strong decline back to lows for wave (C) down to projected 1.65 – 1.61 area.
Wednesday, 25 November 2020 at 14:40 GMT
GBPAUD is trading in a bigger complex correction within wave 4, which might be already finished or it's still in progress. Currently we are tracking minimum three-waves of decline w/i-x/ii-y/iii at least down to 1.79 – 1.77 area. In case if we see an extension straight back to lows, then we will start observing wave »iii« and potential bigger ending diagonal or impulse, but in case if we get a strong bounce in the 1.79 – 1.77 area, then we will start tracking a bigger sideways triangle pattern in wave 4. That said, GBPAUD remains bearish in any case as long as it's below 1.8520 highs.
Wednesday, 25 November 2020 at 14:23 GMT
Silver could be already trading within a higher degree wave 3) to the downside, but we are not really sure at this stage, so we will just follow a short-term intraday structure. Currently we see a slow three-wave intraday corrective recovery from the lows that can be just as part of wave »iv«, but only if stays below 24.05 invalidation level. Anyway, be aware of a continuation lower towards 22.60 – 22.50 area for wave »v«, then we will see.
Wednesday, 25 November 2020 at 14:17 GMT
EURJPY remains nicely bullish and can see more upside, but after current corrective slow down in wave "iv" with support around 124.0 - 123.90 levels.
NATURAL GAS 1h
Wednesday, 25 November 2020 at 14:06 GMT
Looks like Natural gas is unfolding intraday five waves up after we noticed a completed a-b-c correction, so we believe that it's turning back to a bullish mode, just watch out for intraday corrective decline now when December's contract is coming to an end.