• 718 days Will The ECB Continue To Hike Rates?
  • 719 days Forbes: Aramco Remains Largest Company In The Middle East
  • 721 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,120 days Could Crypto Overtake Traditional Investment?
  • 1,125 days Americans Still Quitting Jobs At Record Pace
  • 1,127 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,130 days Is The Dollar Too Strong?
  • 1,130 days Big Tech Disappoints Investors on Earnings Calls
  • 1,131 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,133 days China Is Quietly Trying To Distance Itself From Russia
  • 1,133 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,137 days Crypto Investors Won Big In 2021
  • 1,137 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,138 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,140 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,141 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,144 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,145 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,145 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,147 days Are NFTs About To Take Over Gaming?
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

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…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On Crude OIL And SILVER

Crude OIL

Crude oil has made small three waves from the lows, but normally fourth wave will retrace for 38.2% and back to the area of a former wave four, which in our case comes in around 46.00 area. That's an ideal technical resistance zone that can still be achieved before market turns lower for wave 5 of 3. But generally speaking, it's just a question of time when we will see crude at $43.

Crude OIL, 1H

Crude Oil 1-Hour Chart


SILVER

Silver is moving up quite nicely at the moment, breaking above D and wave B swing highs which is an early indication of a completed triangle in wave 4). We can see a continuation higher into wave 5) now, towards 18.90 or maybe even to 19.16 projected levels.

SILVER, 1H

Silver 1-Hour Chart

A Triangle is a common 5 wave pattern labeled A-B-C-D-E that moves counter-trend and is corrective in nature. Triangles move within two channel lines drawn from waves A to C, and from waves B to D. A Triangle is either contracting or expanding depending on whether the channel lines are converging or expanding. Triangles are overlapping five wave affairs that subdivide 3-3-3-3-3.

Basic Triangle Pattern:

Idealized Elliott Wave Basic Triangle Pattern

 


Interested in our services? We have a Special Offer: Get 14 Days Access For 1€!! Grab the opportunity now at www.ew-forecast.com You can even subscribe to our Twitter account -> @ewforecast

 

Back to homepage

Leave a comment

Leave a comment