• 15 hours Investors Should Be Worried About Tech Stocks
  • 3 days Battle For Market Share Intensifies In COVID Streaming War
  • 5 days Censorship Is Now Private, And That’s Scary
  • 7 days Markets Hit ‘Ignore’ Over Capitol Coup
  • 9 days Tesla’s China Strategy Is Yet Another ReasonTo Double Down
  • 10 days NYSE Reverses China Company Delisting Plans … For Now
  • 12 days The Dollar Could Remain Weak For Years To Come
  • 15 days The Simple Secret To Tesla-Like Gains
  • 16 days US-Listed China Stocks Have 3 Years To Become Transparent
  • 18 days $30,000 Is The New $20,000 For Bitcoin
  • 18 days Gold Slips Following Stimulus Announcement
  • 19 days Illegal Streaming Targeted In The 5,000 Page COVID-19 Stimulus Bill
  • 20 days Big Investors Are Dumping Gold For Bitcoin
  • 21 days The Most Exciting And Strange Energy Tech Of The Year
  • 22 days Morgan Stanley Sees Apple As Major Threat To Tesla’s Dominance
  • 24 days U.S. Lawmakers Pass $2.3 Trillion Relief Package
  • 25 days The Super-Rich Are Investing In “Pandemic Passports"
  • 26 days 5 Promising Stocks in 5 Different Sectors to Start the New Year
  • 27 days Mexico Is Quietly Pushing Out Foreign Oil Investors
  • 28 days A Looming Decision From The Fed Could Send Gold Soaring
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have 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