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Crude OIL and NASDAQ100: Elliott Wave Analysis

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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