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Elliott Wave Financial Price Forecasting

New EW-Commodities Outlook

by WaveTrack International| August 29, 2023 | No Comments

EW-Commodities Outlook September 2023

EW-Commodities Outlook Highlights

  • Heightened Risk of Recession
  • Persistently High Interest Rates from CB’s Knocks Global Economies into Downturn
  • Monetary Liquidity Tight
  • Risk of a Credit-Crunch
  • Commercial/Industrial Real Estate Refinancing Causes Defaults in both U.S. and China
  • Drives Risk-Assets/Commodities Lower, US$ Dollar Higher
  • Stage set for Big Declines
  • Copper Heading Lower, decline of -28%
  • Iron-Ore -17%
  • Precious Metals continuing Correction from May Highs
  • Gold declining below 1800.00
  • Silver below 20.00
  • GDX declining towards 25.00
  • XAU towards 100.00
  • Platinum’s Correction to 862.00
  • Palladium to 988.00
  • TTF Gas Bottomed
  • Nat Gas Lower
  • Crude Oil Collapse to 54.70
  • Brent to 59.66
  • XLE Energy, XOP Oil & Gas set for Big Declines

    • EW-Commodities Outlook Major Themes for September 2023

    Following-on from our PART II mid-year Commodities report, this month’s update continues with some of the central themes surrounding the macro economy and how that may affect prices going forward. From an Elliott Wave perspective, we will discuss three major risks…

    Heightened Risk of Global Recession

    This includes a heightened risk of a global recession, caused by central banks’ maintaining their current interest rate cycle. The theme is ‘higher-for-longer’. A withdrawal of liquidity as the Federal Reserve together with other Central Banks continue tightening.

    Risk of Banking Crisis

    Furthermore, there’s also an increasing risk that a 2nd phase of last March’s U.S. regional banking crisis. The development contributes to a recession as bank’s balance sheets deteriorate with depositor withdrawals quickening.

    Risk of Real Estate Crisis

    And a new risk of defaults in the property sector arises as major Real Estate Investment Trusts offer little in the way of dividends whilst China’s property developer giants seek U.S. Bankruptcy protection.

    In short, without doubt, a global recession means Commodities would take another hit to the downside.

    Subscribe to the latest EW-Commodities Outlook report and get trading insights and much more… Note the EW-Commodities Outlook includes a report and video update!

    Category: Base Metals, Commodities, Copper, CRB, Crude oil, Elliott Wave, Fibonacci Trading, GDX, Gold, Gold Mining, Interest Rates, Mines, Mining, Palladium, Platinum, Precious Metals, Silver, trading, US Dollar Index (DXY) (USDX), XAU Gold/Silver Index, XOP, Zinc

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    WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

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