Episode Details

Tom Bodrovics welcomes Peter Goodburn, founding partner of WaveTrack International to the show. They discuss the impact of recent geopolitical events in the Middle East on financial markets, with a focus on commodities and metals. Goodburn, an advocate of Elliott Wave analysis, emphasized that this method discounts fundamental news, with price action preceding exogenous events. He cited the recent decline in precious metals, despite expectations of a safe-haven rally, as an example of this phenomenon. Goodburn also discussed the “shock pop drop” cycle, a concept he introduced in 2010 to explain the behavior of stock and commodity markets since the Great Depression. According to this framework, the financial crisis of 2008 was the “shock,” followed by a “pop” phase of commodity inflation, which is still ongoing and expected to last until the end of the decade. The subsequent “drop” phase will be characterized by a collapse in asset prices.

Goodburn expects interest rates to rise significantly in the coming years, with the Fed funds rate potentially reaching 10%. He also discussed the implications of the US dollar’s bearish long-term outlook for commodities and the potential for a significant increase in oil prices in the future. Goodburn provided specific price targets for various commodities, including gold, silver, platinum, and uranium, based on Elliott Wave analysis. He also highlighted the importance of questioning mainstream narratives and conducting independent research in financial markets. Goodburn encouraged listeners to explore WaveTrack International’s reports and services for further insights.

Timestamps:
00:00:00 – Introduction
00:01:05 – Geopolitical Events Market Impact
00:06:20 – Shock Pop Drop Cycle
00:12:26 – Inflation & Rates Path
00:13:41 – Dollar Bearish Outlook
00:14:52 – Copper Price Manipulation
00:16:09 – Pandemic Inflation Impulse
00:20:43 – Copper Crude Ratio Analysis
00:33:34 – Gold Silver Reaction
00:36:18 – Precious Metals Technicals
00:43:35 – Silver Targets Strategies
00:47:47 – Platinum Outperformance Forecast
00:53:12 – Uranium Market Roadmap
00:57:33 – Concluding Thoughts

Guest Links:
X: https://x.com/ElliottWave_WTI
Website: https://wavetrack.com

Peter Goodburn is the founding partner of WaveTrack International. His trading experience spans back to the late 1970s working then in the commodities business for exchange members and their clients. In those earlier years of his career, he created the first OTC (over-the-counter) copper option product based upon the Comex (New York) contract around the mid-eighties, and in the same period, devised Opval, an option-evaluation software program that is currently used in many of the major market-making institutions of today.

His fascination with price activity and how that related to the news flow within the markets captured his imagination early on. Peter’s first annual diary of 1978 records his notes and remarks on how the interaction and relationship of fundamental news and price movement often contradicted themselves. Some years later, this was to ignite his interest in causal theory and naturally, the Elliott Wave Principle.

He was first introduced to the Elliott Wave Principle in the mid-eighties listening to daily updates of financial commentary by Bob Beckman on LBC radio (London Broadcasting