• 346 days Will The ECB Continue To Hike Rates?
  • 346 days Forbes: Aramco Remains Largest Company In The Middle East
  • 348 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 748 days Could Crypto Overtake Traditional Investment?
  • 753 days Americans Still Quitting Jobs At Record Pace
  • 755 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 758 days Is The Dollar Too Strong?
  • 758 days Big Tech Disappoints Investors on Earnings Calls
  • 759 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 761 days China Is Quietly Trying To Distance Itself From Russia
  • 761 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 765 days Crypto Investors Won Big In 2021
  • 765 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 766 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 768 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 769 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 772 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 773 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 773 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 775 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis For GOLD, Crude OIL and SP500

As expected, the S&P500 has turned bearish after a five wave rally from 1832 up to 1890/1900 resistance zone. Market fell sharply to the downside, clearly in impulsive fashion and filled the gap from a week back. Because of strong bearish momentum current leg is considered as first leg within ongoing weakness. Therefore we will be looking even lower after any corrective retracement back to 1870 that may occur in the next few days.


S&P500 4h Elliott Wave Analysis

S&P500 4h Elliott Wave Analysis

Crude oil is retracing from 98.80 after strong sell-off a week back. For now we see rally as corrective bounce within larger downtrend. We will stick to a bearish case as long as market trades beneath 102.20 (short-term invalidation level), as we cannot ignore previous three wave rise and broken channel.


Crude OIL 4h Elliott Wave Analysis

Crude OIL 4h Elliott Wave Analysis

Gold fell to new low last week after a minor triangle placed in wave four. We know that triangles occur prior the final leg within a larger pattern. As such, latest move down was fifth wave, final leg within wave (a) that sent prices up at the end of the week. Ideally we we will see a three wave rally now up in wave (b), back to 1320/1342 reversal zone. For now, price is still in wave a) but it can be near completion so be aware of a minor wave b) pullback in the next few sesions.


GOLD 4h Elliott Wave Analysis

GOLD 4h Elliott Wave Analysis

 


Interested in our analysis? Get now 1 month of full service for just 1€. For Trial Offer Click Here
Free Webinar invitation. This Friday at 12:00GMT. Click To Register

 

Back to homepage

Leave a comment

Leave a comment