• 287 days Will The ECB Continue To Hike Rates?
  • 288 days Forbes: Aramco Remains Largest Company In The Middle East
  • 289 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 689 days Could Crypto Overtake Traditional Investment?
  • 694 days Americans Still Quitting Jobs At Record Pace
  • 696 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 699 days Is The Dollar Too Strong?
  • 699 days Big Tech Disappoints Investors on Earnings Calls
  • 700 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 702 days China Is Quietly Trying To Distance Itself From Russia
  • 702 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 706 days Crypto Investors Won Big In 2021
  • 706 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 707 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 709 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 710 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 713 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 714 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 714 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 716 days Are NFTs About To Take Over Gaming?
How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Short Term Elliott Wave Swings On Crude OIL and SP500

Crude oil gaped higher on Sunday, and reached new highs above 107.00 as expected, after clearly corrective set-back from 106.80 to 105.06. We can already see some bearish reversal from the high, but still not sure if wave (v) is done. We may see a re-test of the highs, but we however think that market is in final stages of an uptrend and that sooner or later crude will turn bearish. The RSI is already showing signs of a divergence. Keep an eye on 105.80 figure; a daily close below that level would indicate a top formation.

Crude Oil (August 2014) 1h Elliott Wave Analysis

Crude Oil (August 2014) 1-Hour Elliott Wave Analysis Chart

The US market will open in around 30mins most likely in negative territory as markets are down in pre-trading driven by lower European shares. We however anticipate a reversal in price already at the end of the last week because of a five wave rally in blue wave (iii). As such, we expect a short-term correction back in wave (iv) that may look for a support around 1943/1947.

S&P500 (September 2014) 1h Elliott Wave Analysis

S&P500 (September 2014) 1-Hour Elliott Wave Analysis Chart

 


Interested in our analysis? Get now 1 month of full service for just 1€. http://www.ew-forecast.com/service

 

Back to homepage

Leave a comment

Leave a comment