Adam Smith Associates

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article are purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd The Big Picture - The Dollar index follows cycles and is due to turn down into the next 7 year bear market sooner than later. This chart of the dollar index says so. If cycles repeat they should.

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article are purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd Gold Gold is close to completing a 3 wave correction in wave 2. With support near 1222 from that low if we project wave 3=1 we get 1376. So the target moves up again as the fractal continues to develop. I am not anticipating a deeper correction at this stage unless the 1220 level is broken. Silver Silver and gold both appear to be completing wave 2 declines. Silver closed positive for today after making a low near the 40dema, so in case of Silver an a-b-c decline is complete and it could have bottomed already. Wave 3=1 points to 20.80

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article are purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd ADR Index The Bank of New York ADR index has been edging up slowly within wave E of a wedge like formation for months now. Price has still not touched the upper yellow trendline which is close to 135. We maybe forming a wedge near the end of wave E shown in blue and could be close to completion as well after one more push higher. All this also brings us close to the Oct 2015 swing high seen in the index. Dollar Index The Dollar index surpassed the 61.8% mark and moved to 66% retracement at 102.26 so a new level to watch for today. After that maybe I need to think about this view

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article are purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd Euro The Euro made a minor new low and bounced back. On the hourly chart its again broken out of a falling channel for the 3 day decline. The rally for 2017 so far was wave I. So we have now retraced 70.70% of the rise in wave II. Wave III up should be next and should test the 1.08 level. US 10 Years Treasury Notes US T notes rallied, as expected since December. But as you see it is a slow moving animal. So as we broke out of a inverted H&S bottom yields will fall further in the coming months. Now unlike EWI I have marked the rise as I-II-III etc of Wave A, while they are marking a-b-c and expecting an immediate decline. I am considering a

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article are purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd Gold Gold - closed above both the weekly averages, the next resistance at the weekly Bollinger band is at 1302$. Also note that at the 2016 Dec bottom while price was higher than the 2015 bottom the RSI had a lower reading in 2016 over 2015, a reverse divergence. A divergence is a divergence and so this is a positive development as of now Silver The Silver fractal has also subdivided where each leg is smaller than the previous one. For this reason we have marked the rise so far as a series of impulse waves. The next projection based on equality in waves iii and i is for a move up to 19.48$ Silver MCX Silver MCX prices face a simi

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article are purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd NASDAQ 100 The RSI moved up to 85 for the Nasdaq 100 as the RSI rises one way with price. There should be a knee jerk reaction sometime to release the overbought reading before the move goes on Dollar Index The Dollar index has formed a head and shoulders top like formation. The right shoulder is a wave II bounce back that ended with an inverted hammer candle pattern. Wave II is an expanded flat wave pattern. Wave III down should test the neckline at 99.10 and on a close below it we should head to the next swing level of 96.

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article are purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd Crude Crude Oil has spent some time consolidating above the 50$ mark after it broke out of an inverted head and shoulders bottom. Once crude gets past the 55.24, wave 1 high, we should be well on our way to 65$ as the next level that is close to the upper end of the rising channel from the Oct 2016 low at 42.20 Copper Copper took support at the 20dma near 2.70$ and should be well on its way into wave iii of 3. It could move to 2.90-3.02 as the next set of Fibonacci levels based on the Elliott wave fractal. Silver Unlike gold, Silver is seeing a slow and steady advance with daily ups and down. However having broken out of the fallin