Crude oil is moving higher trying to fill the Sunday gap so our wave (c) up to complete wave 4 around 96.00 area remains in play. if price will stay sideways then wave 4 could also be a triangle. But in either case we think that correction is incomplete.
Crude Oil 1h Elliott Wave
Gold is trading nicely higher since yesterday when we highlighted five waves down that suggested a reversal to the upside. Well, current rally is now looking impulsive, so we think that it represents wave a), still only first leg of a three wave rally. For intraday traders wave b) pullback could be interesting for a contratrend long set-up.
GOLD 1h Elliott Wave