Elliott Wave Analysis Crude OIL, DAX December 16 2015

Crude OIL

Crude Oil fell down to our $35 target and nearly 50 cents lower before the market bounced higher two days back. We see a nice spike at the low that suggests bottom is in place. In fact, a divergence and five sub waves within a red wave v) also suggests that the market should recover in minimum three waves. Ideally, the price is now in wave (iv) that can be headed back to around $40.40, where the former swing low can turn into a resistance. So for now, we are turning bullish for an a)-b)-c) bounce.

Crude OIL, 4H

German DAX

German DAX has turned south with very aggressive price action for the last couple of weeks. But despite a strong decline we see DAX in a corrective, only temporary pullback. On the updated chart, a recent decline represents wave (Y) of a complex correction that found a support around the 10200 area. So far, we have seen a nice bounce from there, which looks like an impulse, so traders must be aware of more gains in the coming days.

German DAX, 4H

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on 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 Ew-forecast he helps clients and educates them about the Elliott wave principle 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!

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