Elliott Wave Analysis On Crude OIL And S&P500
Crude OIL
A sharp reaction with clear five waves from 41.08 yesterday on crude oil suggests that there is a lot of bullish momentum behind that move, so even more upside is likely coming. As such, we will expect more gains after a three wave set-back that can be now underway back to that trendline support around 43.00 where bulls can send price back to the highs.
Crude OIL, 30Min
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S&P500
E-mini S&P500 is at a new high as expected, now in wave 5 which still has some room left for a push up to 2188-2192 projected zone with Fib. levels. However, keep in mind that index can be in final stages of this bullish run, so reversal down into a new correction can be coming.
S&P500, 30Min
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