• 54 mins Bejing's Sway In South China Sea Is Fading
  • 17 hours Saudis Eye Billions As Stocks Get Emerging Market Boost
  • 20 hours Airbnb In Acquisition Mode Ahead Of IPO
  • 23 hours Gold Hangs At $1,300 Ahead Of Fed Meeting
  • 1 day Champagne Sales Slow As European Economic Worries Grow Louder
  • 2 days Putin Signs “Digital Iron Curtain” Into Law
  • 2 days Russian Metals Magnate Sues U.S. Over Sanctions
  • 2 days Tesla Looks To Jump Into Indian Market
  • 2 days Global Banks Lay Groundwork To Re-Inflate Asset Prices
  • 3 days Homeowners Experiment With Risky New Investment Trend
  • 3 days U.S. Tech Stocks Look Increasingly Vulnerable
  • 3 days De Beers To Expand World’s Most Profitable Diamond Mine
  • 3 days Ford CEO Gets Raise After Massive Layoff Round
  • 4 days Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 4 days Where To Look As Gold Miners Inch Higher
  • 5 days Google Faces Billions In Fines From European Regulators
  • 5 days The Energy Industry Has A Millennial Problem
  • 6 days Russian Banks Scramble For Sanction Loopholes
  • 6 days Gold ETFs Take A Hit After Four-Month Run
  • 7 days European Union Takes Aim At Ten New Tax Havens
The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

  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