Silver And NASDAQ100 Intraday Elliott Wave Analysis

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Silver moved higher and now we have that fifth wave up, final part in wave C which means that we should be aware of a bearish reversal. Notice that price is now also testing technical resistance at 20.40/50 where wave C equals to wave A. There is also a bearish divergence on the RSI, suggesting that upside is limited.
Silver 1h

Silver Elliott Wave 121113
Silver Elliott Wave 121113

Last week we were tracking bullish count on NASDAQ100 and highlighted a coming fifth wave which is unfolding very nicely. We should see five waves up from wave (iv) low before rally can be finished. At the moment that’s still not the case so prices will stay in bullish mode. A current pullback from the highs is most likely red subwave iv) that may send market up to 3530 /3540 in the next few sessions.
NASDAQ100 (Dec 2013) 1h

nasdaq100 elliott wave 121113
nasdaq100 elliott wave 121113

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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.