Elliott Wave Analysis: Crude OIL and SP500 Intraday

By: Gregor Horvat | Wed, Jun 11, 2014
Print Email

We are still looking down on crude oil in the short-term for wave c) to complete a contra trend move around 103.30/103.70. Minor upward channel of wave b) gave way, so we definitely could see some weakness in the next couple of hours. However, keep in mind that larger trend is up and that this is just a temporary set-back.

Crude Oil (July 2014) 1h Elliott Wave Analysis

Crude Oil (July 2014) 1-Hour Elliott Wave Analysis Chart

Traders, we have seen some solid weakness on European stocks today, which also pulled down the S&P futures. For now decline on the S&P is in three legs so move can be corrective, and part of incomplete uptrend. I think that break above 1950 will open door for 1962.

S&P Futures (June 2014) 1h Elliott Wave Analysis

S&P Futures (June 2014) 1-Hour Elliott Wave Analysis Chart

 


Interested in our analysis? Get now 1 month of full service for just 1€. http://www.ew-forecast.com/service

 


 

Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

EW-Forecast: To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!

Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.

Copyright © 2013-2017 Gregor Horvat

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com