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Elliott Wave Analysis On German DAX And Crude Oil

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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