• 705 days Will The ECB Continue To Hike Rates?
  • 706 days Forbes: Aramco Remains Largest Company In The Middle East
  • 707 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,107 days Could Crypto Overtake Traditional Investment?
  • 1,112 days Americans Still Quitting Jobs At Record Pace
  • 1,114 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,117 days Is The Dollar Too Strong?
  • 1,117 days Big Tech Disappoints Investors on Earnings Calls
  • 1,118 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,120 days China Is Quietly Trying To Distance Itself From Russia
  • 1,120 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,124 days Crypto Investors Won Big In 2021
  • 1,124 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,125 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,127 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,128 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,131 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,132 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,132 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,134 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On SP500 And Crude OIL

S&P500

SP500 broke out of a triangle in the minor wave iv and is now trading higher into wave v of 3. We see resistance for this wave 3 around 2.150, from where a new turnaround lower may occur in three waves with possible support seen around 2.124 region, where formal wave iv can act as a turning point higher.

S&P500, 1H

S&P500 1-Hour Chart


Crude OIL

On the intraday chart of Crude OIL, blue wave 4 seems to be completed, as recent sharp reversal higher has accomplished red wave C), last leg of a three wave correction. That said we are now looking bullish and expect higher levels to follow, but as we know nothing moves in straight lines, so we have to be aware of temporary corrective retracements.

Crude OIL, 1H

Crude Oil 1-Hour Chart

 


Interested in our services ? We have a Special Offer : Get First 2 Months For The Price Of 1!! Grab the opportunity now at www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment