The SPX had a green day yesterday but its structure suggests this is only part of a correction in a 5-wave downward impulse. Can the 4383 swing low of (encircled) wave i hold if bulls push the index up there?
Gold prices closed a 3rd red day on Monday and could continue to decelerate but the commodity might bounce at the $1900 round support. Since this would be the first downside leg in the alleged wave 3, it would only be a likely short-term upside move.
Loonie’s upside found resistance below $1.28 and started falling as the upside correction looked completed.
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Daily Elliott Wave Forecast: SP500, GOLD, LOONIE (26.04.22)
The SPX had a green day yesterday but its structure suggests this is only part of a correction in a 5-wave downward impulse. Can the 4383 swing low of (encircled) wave i hold if bulls push the index up there?
Gold prices closed a 3rd red day on Monday and could continue to decelerate but the commodity might bounce at the $1900 round support. Since this would be the first downside leg in the alleged wave 3, it would only be a likely short-term upside move.
Loonie’s upside found resistance below $1.28 and started falling as the upside correction looked completed.
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
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