E-mini SP500 And Crude OIL Intraday Elliott Wave Outlook

By: Gregor Horvat | Tue, Dec 3, 2013
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Staying with a dirrection of a trend should be the most important for traders and analysts. So despite a five wave down on the S&P 500 I am tracking a corrective price action, called an expanded flat where wave c is made by five waves. So if my interpretation is correct then we will see a bounce from around 1791-1795 zone. If we go down to 1775 then then is most likely not a flat. Guys, I will be back with you later, at the start of the New York session.

S&P500 (Dec 2013) 1h Elliott Wave Analysis

S&P500 1-Hour Chart

Recent leg to a new low on Crude Oil was made in three legs which is a structure of a corrective pattern, so we think that wave 4 from Nov 14 is still unfolding. We are now observing idea of a running traingle with wave (c) underway that is expected to stop around 94.60-95.00 region.

Crude Oil (Jan 2014) 1hElliott Wave Analysis

Crude Oil 1-Hour Chart


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

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