Elliott Wave Analysis For GOLD and OIL Intraday
Crude oil hit new lows yesterday so the structure has changed, but it's still corrective which is the most important so we know that next impulsive reaction should be to the upside. We are now looking at the updated labeling with a double zigzag down from 107.35 in wave (iv) that can be near completion. However, a break of the corrective channel and move above 106.07 swing is needed before we can confirm wave (v) up to 108.00.
Crude Oil (August 2014) 1h Elliott Wave Analysis
Gold did not move much in the last 24 hours so our bias remains unchanged, we are looking at incomplete wave v) that may extend gains up to 133571340 in the short term, out of current sub-wave iv. However, metal seems to be in final stages of wave (a) so we could see a top formation by the end of this week.
GOLD 1h Elliott Wave Analysis
Interested in our analysis? Get now 1 month of full service for just 1€. http://www.ew-forecast.com/service
Tweet
Author: Gregor Horvat
Gregor Horvat
www.ew-forecast.com
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.
EW-Forecast: To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!
Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.
Copyright © 2013-2017 Gregor Horvat
Circle Us