Elliott Wave Analysis On German DAX And Crude Oil

By: Gregor Horvat | Tue, Mar 8, 2016
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German DAX

DAX recently posted wave 4) lows around 9614 level, after a nice impulsive structure had unfold in red wave 3). That said if the B-swing at 9809 level is broken, we may expect a continuation to higher levels in red wave 5).

German DAX, 1H

German DAX 1-Hour Chart


Crude OIL

Crude OIL is trading as planned, making a nice reversal towrads our upper channel line in wave iv), after the price made a nice five wave structure from February lows. In this pullback we expect a minimum three wave correction to unfold, ideally to around 36.00 area where previous midwsign can act as a support. Final target for this wave v) advance would then be around 40 levels.

Crude OIL, 1H

Crude Oil 1-Hour 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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