S&P500 E-mini S&P500 broke sharply recently, above 2000, an important psychological level, so we assume that the price is making an impulsive recovery in the fifth sub-wave of an extended wave 3). This can form a top formation in the next few sessions, but only temporarily since a coming retracement is likely to be another correction within the uptrend. We are anticipating red wave 4) that can retrace even back to 1970-1980 region where a new bounce may happen later this month. In the meantime, invalidation level at 1943 must not be breached. Divergence on the RSI also suggests that a correction is due. S&P500, 4H Crude OIL Crude oil has been trading higher as expected, but now is reversing down from 42.46 where energy can be looking for a top if we consider that the price hit our Fibonacci projected area for wave five of C. That said, big red wave 4) can be coming to an end but we still need the broken channel line as well as a push beneath 37.63 swing to confirm a trend change. Crude OIL, 4H Gregor Horvat 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! View All Post By Gregor Horvat Daily Look share Read Next EURUSD , GBPUSD , USDJPY and XAUUSD TA – March 22 2016 John Benjamin 6 years S&P500 E-mini S&P500 broke sharply recently, above 2000, an important psychological level, so we assume that the price is making an impulsive recovery in the fifth sub-wave of an extended wave 3). This can form a top formation in the next few sessions, but only temporarily since a coming retracement is likely to be another correction within the uptrend. We are anticipating red wave 4) that can retrace even back to 1970-1980 region where a new bounce may happen later this month. In the meantime, invalidation level at 1943 must not be breached. Divergence on the RSI also suggests that… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
