GOLD.SILVER.DOLLAR.OIL

Gold has a clear five wave impulse down. The B wave should end near 1,380 levels after which the C wave down to new lows below 1,320 should begin. Silver looks more like a 3-3-5 structure. We see the B wave complete and prices starting a C leg lower till 25. OIL is also stagnating in a B wave, which should resolve lower. Dollar index remains in B wave till price clearly move above 79.55 previous highs.

(Article written in association with Orpheus CAPITALS -- ticks Global Intraday Service)

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Forex update JPY.EUR.GBP.AUD vs. USD

USDJPY. Prices have completed a five wave structure suggesting that the bounce back could push back up till previous 4 wave levels at 86.
EURDUSD is in a 2 wave counter trend wave that should not push above 1.38-1.39 resistance levels. After the ongoing bounce prices should move back 1.3238 levels.
AUDUSD. The price Reversal below 1.000 suggest that B wave is also over and prices are headed down till 0.9350 . The price action also has a potential Head and shoulder neckline near 0.9700. A break here will also confirm the preferred negative view.
GBPUSD. Prices have completed the Wave B up at 1.5900 levels and are headed down till 1.5600.

LME Nickel Medium term view

The B minor corrective (counter-trend) seems over and now the prices should move lower in the C wave back below previous low at 17,000. Sub 24,000 we continue to look lower.