' Dynamic volatility spillovers among bulk mineral commodities: A network method,' An, Sufang & Gao, Xiangyun & An, Haizhong & Liu, Siyao & Sun, Qingru & Jia, Nanfei, 2020.

Los & Sijing Zong, 2004.Ġ409048, University Library of Munich, Germany. ' Persistence Characteristics of Latin American Financial Markets,'Ġ411013, University Library of Munich, Germany. ' Les hausses récentes des cours des matières premières traduisent-elles l'entrée dans un régime de prix plus élevés ?,'

Cécile Couharde & Vincent Géronimi & Armand Taranco, 2012.

economy,'Įconomic Modelling, Elsevier, vol. ' Chinese liquidity increases and the U.S. ' Financialisation of natural resources & instability caused by risk transfer in commodity markets,'

Duc Huynh, Toan Luu & Burggraf, Tobias & Nasir, Muhammad Ali, 2020.

' Expected prices, futures prices and time-varying risk premiums: The case of copper,'

Cifuentes, Sebastián & Cortazar, Gonzalo & Ortega, Hector & Schwartz, Eduardo S., 2020.

' Modeling dynamics of metal price series via state space approach with two common factors,'ġ56, Hamburg Institute of International Economics (HWWI). Nevertheless, there is evidence that mass psychology affects commodity markets as posited by Elliott, and therefore this factor could be considered as an explanatory variable of commodity price formation and cycles, for what is proposed to test its causality. The results of the investigation suggest that EWP would not be a strong approach to analyze commodity markets in a cycle basis, which is confirmed by the results of the simulation. To see the applicability of EWP to commodity markets, a Monte-Carlo simulation was conducted over detected Elliott waves in the prices of gold, silver and copper, as well as on a metal price index. Considering that metal commodity prices have empirically demonstrated cyclical behavior and investors and speculators’ mass physiology could be becoming an influential factor in commodities price formation given their increasing participation in last decades, this article explores whether EWP can be used to analyze commodity cycles.

The Wave Principle, known as Elliott Wave Principle (EWP), is a theory widely used in technical analysis and is based on the idea that the fluctuations in markets follow recognizable and repetitive cycles, which are the reflection of market participants’ mass psychology.

Elliott wave principle pdf