Captain Ewave Weekly Charts Post!
Weekly Gold Chart: http://captainewave.com/wp-content/uploads/2025/04/EWAPR2725GOLD.png
Long Term Update:
Gold was initially higher again this past week reaching another all-time high at 3499.90.
After that high was made we moved lower reaching a low of 3260.70, closing 3319.20.
We are moving higher in a multi-year wave (3) of 3, that has a current projected endpoint of:
(3) = 1.618(1) = 4298.80.
Within wave (3) we are moving higher in wave -iii- which has a current projected endpoint of:
-iii- = 6.250-i- = 3249.40.
Within wave -iii-, we are moving higher in wave *iii* which has an updated projected endpoint of:
*iii* = 6.25*i* = 4660.20.
It looks like wave *iii* is still underway, as shown on the Weekly Gold Chart, and we are now assuming that wave $iii$ is complete at the 3499.90 high and if that is the case then we are now falling in wave $iv$, with retracement levels as indicated in our last Daily Morning Post..
Active Positions: Long with puts as stops!
Silver:
Weekly Silver Chart: http://captainewave.com/wp-content/uploads/2025/04/EWAPR2725SI.png
Long Term Update:
Silver was higher again this week reaching a high of 33.68, closing at 33.03!
We are moving higher in wave 3, as shown on our Weekly Silver Chart. Within wave 3, we completed wave i at 29.91 and wave ii at 18.01 and we are now continuing to move higher in a subdividing wave iii.
Within wave iii, we completed wave (i) at 24.39, wave (ii) at 19.94 and we are now moving higher in wave (iii) which has the following projected endpoints:
(iii) = 2.168(i) = 38.04
Within wave (iii), we completed wave -i- at 26.43, wave -ii- at 20.85, wave -iii- ended at 34.90 and wave -iv- at 27.60. We are now moving higher in wave -v-.
The other possibility is that we are still working on a wave *iv* bullish triangle that is now expanding and extending.
Longer term our initial projection for the end of wave 3 is:
3 = 1.618(1) = 86.50
In the very long term, we completed all of wave III at 49.00 in 1980 and all of wave IV at 3.55 in 1993. We are now working on wave V and within wave V we have the following count;
1 = 49.82;
2 = 11.64;
3 = First projection is 86.50.
Active Positions: Long with puts as a stop!
US 10 Year Bond Yield:
Monthly US 10 Year Bond Chart: http://captainewave.com/wp-content/uploads/2025/04/EWAPR2725BOND.png
Long Term Update:
The 10 Year US Bond Yield was lower again this past week reaching a low of 4.251%, closing at 4.266%!
Within a multi-year wave C, we are rallying in wave i, which is now complete at the 5.201% high. We are now falling in wave ii, which should retrace between 50 to 61.8% of the entire wave i. We have provided those retracement levels in our Daily Post.
We are working on the assumption that wave ii has become a flat type correction, with wave (a) ending at 3.785%, and wave (b) ending at 4.809%. If that is the case, we should now be starting to move lower in wave (c), which should reach our retracement zone for the completion of wave ii.
Within wave (c), we updated our count to suggest that wave -i- ended at 3.886% and we are now moving higher in wave -ii-, which maybe complete at the 4.592% high.
After wave -ii- ends we expect another drop in wave -iii-, and we will provide our initial projected endpoint, when we believe that all of wave -ii- is complete.
On our Long-Term Monthly Chart all of wave A ended at the 15.83 high in 1981 and since that high was made, we have fallen in a triple 3 wave correction within wave B that ended at the 0.38% level.
We have started to rally higher in a multi-year wave C rally that will eventually see rates reach at least the 15.83 high again!
Active Positions: Short risking to 5.50%!
Crude Oil:
Weekly Crude Oil Chart: http://captainewave.com/wp-content/uploads/2025/04/EWAPR2725OIL.png
Long Term Update:
Crude was initially higher again this past week reaching a high of 64.87, although after that high was made we moved lower reaching a low of 61.57, closing at 63.19.
Wave ii is a double 3 wave pattern as shown on our Weekly Crude Chart. Our first 3 wave (a)(b)(c) pattern ran from the wave i high 130.50 to 63.64, with wave (x) ending at 95.03 and our second (a)(b)(c) patterns looks like wave (a) ended at 67.72, our wave (b) bearish triangle at 72.28 and our wave (c) thrusts lower at perhaps the 55.12 low.
if that is the case, then we are now starting to move higher in the initial stages of wave iii.
Our retracement levels for all of wave ii are:
50% = 68.50.
61.8% = 53.87.
In the long term we are now rallying in wave C that has the following projections:
C = A = 153.77;
C = 1.618A = 244.78.
Suncor:
Weekly Suncor Chart: http://captainewave.com/wp-content/uploads/2025/04/EW-APR2725SU.png
Long Term Update:
Suncor was higher again this past week reaching a high of 35.93, closing at 35.60!
It looks like wave (iii) is extending to our projected endpoint as follows:
(iii) = 2.618(i) = 43.00.
Within wave (iii), wave .iii. ended at 42.72, and we are now working on a an expanding bullish wave .iv. triangle, as shown on our Weekly Suncor Chart.
After our wave iv bullish triangle ends, we expect a sharp thrust higher in wave -v- of (iii).
Active Positions: Long crude, with puts as a stop. Long Suncor!
SP500:
Weekly SP500 Chart: http://captainewave.com/wp-content/uploads/2025/04/EWAPR2725SPW.png
Long Term Update:
The SP500 was initially lower this past week reaching a low of 5101.63, but after that low was made, we moved sharply higher reaching a high of 5528.11!
Wave V is complete at the 6147.43 high, and we are starting to move sharply lower in wave A.
Within wave A, we have adjusted our internal count to suggest that we are falling in wave i and within wave i, we completed wave (i) at 5504.65 and wave (ii) at 5786.95 and we are now falling in a subdividing wave (iii), with wave -i- ending at 4948.43 and we are now rallying in the tail end of wave -ii-, which has the following last retracement level:
78.6% = 5607.51.
After wave -ii- ends we expect a very sharp drop in wave -iii- and we will provide our initial projections for its completion after we believe that wave -ii is complete.
We plan to add to our short positions Sunday night or Monday!
Active Positions: Short with calls as stops.
USDX:
Weekly USDX Chart: http://captainewave.com/wp-content/uploads/2025/04/EWAPR2725USD.png
Long Term Update:
The USDX was initially lower again this past week reaching a low of 97.68, although after that low was made, we moved higher reaching a high of 99.74, closing at 99.37!
We continue to work on a very large wave B bearish triangle and within that triangle all of wave ^c^ ended at the 114.75 high. We are now falling in wave ^d^. Wave ^d^ cannot fall below the wave ^b^ low of 71.46 for this triangle formation to remain valid. Wave ^d^ needs to consist of at least one abc pattern but can have up to 3 such patterns.
Within wave ^d^, wave a ended at 100.35 and wave b at 110.02.
Within wave c, we completed wave (i) at 106.78 and wave (ii) at 109.75 and we are still falling in wave (iii) as detailed in our Daily Morning Posts. There is an outside chance that all of wave (iii) ended at the 97.68 low, and if that is the case then we are now moving higher in wave (iv).
Active Positions: Short, risking to 110.10!
CDNX:
Weekly CDNX Chart: http://captainewave.com/wp-content/uploads/2025/04/EWAPR27CDNX.png
Long Term Update:
The CDNX was sharply higher again this past week reaching a high of 654.22, closing at 653.83!
Wave -ii- is now complete at the 506.65 low, and we are slowly starting to move higher in wave -iii-, although we need to take another look at the internal wave structure.
Next major resistance is the significant congestion between 629.55 to 644.49… which we may have finally broken through!!
Our initial projections for the end of wave -iii- is:
-iii- =-1.618-i- = 1773.52.
Our minimum multi-year long term target for the end of wave C is 3341.56.
Active Positions: Long the GDXJ, for a long-term hold!
GDX:
Weekly GDX Chart: http://captainewave.com/wp-content/uploads/2025/04/EWAPR2725GDX.png
Long Term Update:
The GDX was initially higher again this past week reaching a high of 53.25, although after that high was made we moved lower reaching a low of 47.77, closing at 48.81.
All of wave A ended at the 53.08 high in 2008 and all of our bullish wave triangle at 33.42, and we are now starting to thrust higher in wave C.
Our initial projections for wave C are:
C = A = 90.29.
C = 1.618A = 125.44.
Within wave C, we completed wave (i) of i of C at 42.54, wave (ii) at 38.58, and we are still moving sharply higher in a subdividing wave (iii), as shown in our Daily and 60 Min GDX Charts.
Active Positions: We are long the GDX, ABX, KGC, NEM, SSSR, and TSX:XGD… with no stops.
Bitcoin:
Weekly Bitcoin Chart: http://captainewave.com/wp-content/uploads/2025/04/EWAPR2725BIT.png
Editor ST Note: The Captain only invests in items he fully understands from a fundamental standpoint, in addition to being comfortable with the wave counts. He feels he lacks that fundamental understanding about bitcoin, which is why he is flat this item, although that could change in the future. Regardless, he’s 100% comfortable with his bitcoin wave counts laid out here, and both his sons are keen bitcoin investors.
Long Term Update:
Bitcoin was sharply higher this past week reaching a high of 94,924, closing at 83,815!
All of wave 1 or A is now complete at the 64,860 high and wave 2 or B at the 15,547 low.
Within wave C or 3, we completed wave i at the 73,803 high and wave ii at the 49,203 low. We should still be moving higher in wave iii, which has an initial projected endpoint of:
iii = 1.618i = 143,641.
Within our now subdividing wave iii, we completed wave -i- at 108,369 and we are now falling in wave -ii-, which has the following retracement levels:
50% = 78,786.
61.8% = 71,804.
We have now reached our retracement zone, so we need to be guard for the completion of wave -ii- and the start of another rally in wave -iii-. We will provide our initial projected endpoint for wave -iii-, when we believe that all of wave -ii- is complete.
Our current projected endpoint for wave 3 or C is:
3/C = 1.618A = 120,490.
We still expect higher prices as wave iii continues to develop!
Active Positions: Flat!
Thanks!
Captain & Crew
