Elliott Wave Analysis: German DAX and Crude OIL
German DAX is slow above 12400, after that aggressive run up at the start of the week. As such, we assume that move on Monday was a third wave as those are usually the strongest so current slow price move can be just a pause within ongoing fourth wave. It’s one of the fourth waves that is pointing up to 12500, possibly to 12550.
German DAX, 30Min
Crude OIL
Crude oil made a deep decline down to 48.50 area in the last two weeks, move that can be ending now after recent intraday turn up, above the channel resistance line, which suggests that a minimum three wave rise can be in play now towards 51.43.
Crude OIL, 1H
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