Elliott Wave Analysis: Crude OIL and S&P500 Intraday 6/11/2014


We are still looking down on crude oil in the short-term for wave c) to complete a contra trend move around 103.30/103.70. Minor upward channel of wave b) gave way, so we definitely could see some weakness in the next couple of hours. However, keep in mind that larger trend is up and that this is just a temporary set-back.
Crude Oil (July 2014) 1h Elliott Wave Analysis

oil intraday

Traders, we have seen some solid weakness on European stocks today, which also pulled down the S&P futures. For now decline on the S&P is in three legs so move can be corrective, and part of incomplete uptrend. I think that break above 1950 will open door for 1962.
S&P Futures (June 2014) 1h Elliott Wave Analysis

spx intraday

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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.