Elliott Wave April 4 2017 S&P500 and Crude OIL

S&P500

E-mini S&P500 has turned up last week, which was technically expected because of a five wave fall down in wave C back in March. Keep in mind that after every five waves, the market will make a three-wave reversal minimum, therefore, we can expect more upside after any corrective set-back as the leg up from 2321 is still only the first leg of a new bullish continuation. Ideally however, stocks will continue back to their all-time highs.

S&P500, 4H

Crude OIL

Crude oil is turning nicely up from 47.05 level where we see a low in place following recently completed five wave decline in wave C). Notice that the market turned up very strongly last week, back above $50 per barrel with impulsive price structure, which means that more upside is coming this month above the 52.36 bullish level when we may start looking back to 57.00.

Crude OIL, 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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