• 5 hours The Investment Sector Defying A Global Pandemic
  • 6 hours Face Masks Become The Key To Economic Recovery
  • 10 hours Impact Investing Remains Strong Despite COVID-19 Market Downturn
  • 12 hours Global Stocks Are Soaring On Fresh Vaccine Hopes
  • 14 hours Rethinking Mining: A $10 Trillion Opportunity
  • 1 day Smart Investors Are Betting On This COVID-Proof Industry
  • 1 day Disney’s Digital Pivot Could Be Its Saving Grace
  • 1 day What Does Tesla's Million-Mile Battery Mean For Green Energy?
  • 2 days U.S.-China Tensions Are Reaching A Boiling Point
  • 2 days Gold Remains Strong Amid Increasing Economic Uncertainty
  • 2 days Morgan Stanley And Goldman Sachs Are Betting Big On This Budding Industry
  • 2 days Global Corporate Debt Soars To $9 Trillion
  • 2 days The Fed’s Slippery Slope
  • 2 days Precious Metals Pulled Ahead Of The Pack In The First Half Of 2020
  • 2 days Tesla Faces $20 Billion In Short Interest
  • 2 days China's Economic Recovery Remains Tepid
  • 3 days Silver Inches Closer To $20
  • 3 days The Secret Life Of Lithium
  • 3 days The Pandemic Proof $53 Billion Industry Wall Street Can’t Ignore
  • 3 days Will Gold Hit $2,000?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

Contact Author

  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