Elliott Wave Analysis Crude OIL and DAX September 19

Crude OIL

Crude oil came down last week and retested the 43.00 levels. As you know, we are tracking a deep double zigzag on the 4h chart from the 49.35 high which may be coming to an end around that 61.8% Fib. level. However, it’s always important to be patient and wait on a small intraday bullish reaction before we may confirm the end of wave two. In other words, we would love to seea rise back to the 46.00 area to confirm a change from the temporary bearish back to bullish mode.

Crude OIL, 4H

German DAX

On DAX we have seen a turn down from 10770-10800 area as expected, after we labeled the rally up from Aug 22 low as wave B. That wave B is a part of a complex downward correction from 10803 which we think can be wave 4) headed to 10200-10300 area. A support can be found there, after five sub-waves can be visible down in wave C. If we are correct then then sub-wave five of C is now in play.

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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