Silver and Crude OIL Intraday: Elliott Wave Analysis
Silver has slowed down recently, into a tight range which is fine as metal completed a dive wave rally from 14.45 at 16.76. Therefore, we think that current slow move represents a correction that can still be incomplete. Wave c) decline close to $16 is possibly before market turns up for a new impulse.
Silver 1h Elliott Wave Analysis
There is a big question if crude has may found a temporary or maybe even tradable bottom at 63.71 or was just a correction. Well, we can see sharp leg to 69.54 which must be an impulsive reaction, especially if we consider corrective decline from latest swing high, which are very slow and choppy, like in our case. We see an a-b-c set-back that can stop around $66 per barrel.
Crude Oil 1h (Jan 2015) 1h Elliott Wave Analysis
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