![\"\"](\"https:\/\/lh4.googleusercontent.com\/5Go_mI3krR-irXo90St_63Ki2rOIpo9iensx8v4yvS5C2cGc0EJfCqgqG0lWEKpOGj2beHfdr7vVIYwX1E8sBckEIWsqnM9f__FeBwkyVXJxf2I3l-_vUpheAdmmpdYJQSjs_BTvdk0\")
<\/p>\nS&P500 has turned nicely to the downside last week from 1865\/1870 resistance area where wave 2\/B completed a corrective rally. Market already reached a new swing low but based on downside fib. projections and strong bearish momentum price could be moving down in wave 3 towards 1765 zone. Only rally above the upper resistance line of a current downward channel would put market back in bullish mode.<\/p>\n
S&P500 4h Elliott Wave Analysis<\/p>\n
Crude oil exceeded 102.20 swing high last week which makes rally from 97.00 more complex but still corrective. We are looking at a three wave move with a triangle placed in wave b), so current leg from 99.87 can be wave c), final leg within a corrective advance, so we\u00a0 should be aware of a bearish reversal. An impulsive sell-off back to 101.50 will be an important sing for a completed recovery. In that case we would be looking for short opportunities again. Until then staying aside may not be a bad idea.<\/p>\n
Crude OIL 4h Elliott Wave Analysis<\/p>\n
![\"\"](\"https:\/\/lh5.googleusercontent.com\/wfiB8HJSFgtmnREQ8AB9jzfRxMzkogTuOjNW6dOpxQpinXxCNjywLyzUWnLXfBr-NVERWKsJSagKPtrrXIRWLATc2rpEvIc2Rn4TOf8FIgHGhBJh8ndv6a5EXhrVl87dhSnRUKcVUxs\")
Gold is recovering from 1277 low but still showing a corrective personality because of an overlapping price action. Therefore we think that rally from the low is temporary; ideally it’s wave (b) that is part of a larger downtrend. We see price now moving into 1320-1342 reversal zone from where a new sell-off may occur. A decline in impulsive fashion will confirm a downtrend continuation for this market.<\/p>\n
GOLD 4h Elliott Wave Analysis<\/p>\n
![\"\"](\"https:\/\/lh5.googleusercontent.com\/VrvZcgBwTZjERoE_LU4kqJA70Swyr3c5_CnrLtM4WzfWahYXxRpZdaUXk9Nthh9ELzWRjEMSzMKEjM4-_Uv-LjnKgsAi6yeHaVjQw5SgctHh7LMVDRp5z5lbETIMO0OnaozJjPlaKmY\")
Interested in our analysis? Get now 1 month of full service for just 1\u20ac. http:\/\/www.ew-forecast.com\/service<\/a><\/p>\n Like To Learn Elliott Wave ? View the recorded webinar \u201c Elliott Wave Live Market Analysis<\/a>\u201d<\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" S&P500 has turned nicely to the downside last week from 1865\/1870 resistance area where wave 2\/B completed a corrective rally. Market already reached a new swing low but based on downside fib. projections and strong bearish momentum price could be moving down in wave 3 towards 1765 zone. Only rally above the upper resistance line … <\/p>\n