Elliott Wave Analysis: German DAX and Crude OIL 

intraday oil

Gregor - Author BIO photoGerman DAX

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

intraday dax

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

intraday oil

 

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By Gregor Horvat

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