Elliott Wave Analysis: Crude OIL Aiming For 50


Markets did not move much, only exception was oil in the last 12 hours when we saw a nice break higher yesterday. Ideally resumption of an uptrend is here for 48 and then even 50 next month. In the short-term however, we should be aware of a new corrective set-back, down into wave two-circled once wave one is finished.





Crude OIL, 1H



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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.