Crude OIL Turning Bearish, SP500 Looks For New High

By: Gregor Horvat | Fri, May 8, 2015
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Another swing low is needed on Crude oil before we can confirm a top in place at 62.55 and expect lower prices next week. If we will get a red wave v) down today, then a)-b)-c) retracement could be a nice short early next week and would also confirm bullish USDCAD.

CRUDE OIL (June 2015) 1h Elliott Wave Analysis

CRUDE OIL (June 2015) 1-Hour Elliott Wave Analysis Chart

S&P500 Futures are moving up on good data, now trading above 2100 so looks like that it's only question of when the S&P will move back to all time highs and not when. However, as soon as price reaches 2125 figure, we need to be aware of a bearish turn as we market can be heading higher for final stages of an ending diagonal.

S&P Futures (June 2015) 1h Elliott Wave Analysis

S&P Futures (June 2015) 1-Hour Elliott Wave Analysis Chart


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat

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 He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website:

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