S&P 500 Moving Down, Looking For Upside In Crude Oil
Gregor Horvat | Mar 26, 2014 06:37AM ET
E-mini S&P500 has turned nicely to the downside yesterday from 1865 »do or die« zone highlighted yesterday. However, new swing lows were not shown so it looks like that rally from Mar 24 is going to be complex. I am looking at double zigzag with wave (C) heading up to 1865 once again, so I would not be surprised to see another leg down from that region.
S&P 500 (June 2014) 30min Elliott Wave Analysis
On Crude oil, we marked a leading diagonal from 97.00 low so we are looking for more upside once current corrective reversal from 100.28 will complete a set-back. 98.00/20 seems like a nice technical support for this market. If you are interested in longs, your stops should be beneath 97.00 figure.
Crude Oil (May 2014) 1h Elliott Wave Analysis
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