Crude OIL and NASDAQ100: Elliott Wave Analysis

By: Gregor Horvat | Mon, Apr 20, 2015
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Red a)-b)-c) decline completed blue wave (iv) correction exactly at 38.2% from where a sharp intraday impulse occurred so new highs should follow, up to around 59 area, where bulls could low down this week as energy seems to be in final stages of a corrective rally since February.

CRUDE OIL (May contract) 1h Elliott Wave Analysis

CRUDE OIL (May contract) 1-Hour Elliott Wave Analysis Chart

NASDAQ100 could be preparing itself for a strong break to new highs as latest decline has unfolded in three waves, and found a support and mid-channel line. Rally above 4430 is expect this will which will put bulls in full control.

NASDAQ100 4h (June contract) Elliott Wave Analysis

NASDAQ100 4-Hour (June contract) Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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