• 679 days Will The ECB Continue To Hike Rates?
  • 679 days Forbes: Aramco Remains Largest Company In The Middle East
  • 681 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,081 days Could Crypto Overtake Traditional Investment?
  • 1,086 days Americans Still Quitting Jobs At Record Pace
  • 1,088 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,091 days Is The Dollar Too Strong?
  • 1,091 days Big Tech Disappoints Investors on Earnings Calls
  • 1,092 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,094 days China Is Quietly Trying To Distance Itself From Russia
  • 1,094 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,098 days Crypto Investors Won Big In 2021
  • 1,098 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,099 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,101 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,102 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,105 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,106 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,106 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,108 days Are NFTs About To Take Over Gaming?
Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: SP500; and Crude OIL

S&P500

E-mini S&P500 is moving sideways with a contracting range which is tighter and tighter so breakout is going to occur soon. Technically we expect a push to a new high since we know that triangles are continuation patterns. That said, watch out for 2273 bullish level which can be an important breakout point this week for bulls. On the downside we see 2248 as very important.

S&P500, 1H

S&P500 1-Hour Chart


Crude OIL

Decline on crude oil below 52.66 suggests that rally from Jan 18 low was only a temporary three wave bounce, now labeled as wave E of a bearish triangle. The reason why we changed the view to a temporary bearish mode is also a five wave reversal from 53.67 which means that bears can be in control for a few days. Rise back above 53.67 would be a new bullish evidence for this energy.

Crude OIL, 30Min

Crude Oil 30-Minute Chart

 


EW-Forecast.com has a special offer available on yearly membership, with 31% OFF.
Visite http://www.ew-forecast.com/service for details

 

Back to homepage

Leave a comment

Leave a comment