Energy markets turned bullish yesterday with Crude Oil up around 1.2% and Heating Oil in green territory close to 1.6%. Crude interestingly reversed up after a fall down to 101.13 but not beneath 101.02 invalidation mark. As such, we are still bullish on crude, at least for the short term towards 104.30. But if you are trading energies then maybe focusing on Heating oil may not be a bad idea as this market seems to be trending better these days.
CRUDE OIL 1h Elliott Wave Analysis
NASDAQ 100 Futures
NASDAQ100 has reversed strongly to the upside from 3110 and already moved above 3190 which makes an overlap with wave (w) as labeled on the chart. This overlap means that decline cannot be impulsive, so it is corrective. If we respect bullish reversal from the lows then of course we need to look up again, now back to 3250, and even higher after that. With that said, traders could be considering long opportunities on pull-backs, while 3110 holds.
NASDAQ100 Futures 4h Elliott Wave Analysis
Written by www.ew-forecast.com
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