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

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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