US markets are open for trading. OIL looks to be out of the triangle and so we are looking higher in the impulsive 5 wave up. The first impulsive blue wave one is already finished and now we expect a temporary pullback in wave ii at around 48.60, from where a strong move to the uspide may follow as wave three. Resistance and possible completion of this impulsive rise from 47.65 zone may be seen around 50-51 region.
Crude OIL, 1H
S&P500 after a recent strong push up is still trading in impulsive fashion and may be completing blue wave iii up soon. We expect resistance around 2.087 and then a corrective pullback of the blue wave iv near the previous level of the minor wave four around 2.070 levels.
S&P500, 30 Min
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