The SPX500 reached a new low and bounced, however, the 5th structure has not yet been completed. The chances of a short-term upside will raise once the final wave forms wave A.
Loonie has invalidated the triangle we expected, but not the pattern itself. Although, invalidation of this ‘larger’ triangle will change the log-term count completely. And with it, the outlook is more upward than downward.
Natural Gas has put a double top in but the structure off wave 4 does not seem competed. One more short-term upside would lead to a finalised 5-wave move, and from there, a correction would be more likely.
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Daily Elliott Wave Forecast: SP500, USDCAD, NATGAS (04.05.22)
The SPX500 reached a new low and bounced, however, the 5th structure has not yet been completed. The chances of a short-term upside will raise once the final wave forms wave A.
Loonie has invalidated the triangle we expected, but not the pattern itself. Although, invalidation of this ‘larger’ triangle will change the log-term count completely. And with it, the outlook is more upward than downward.
Natural Gas has put a double top in but the structure off wave 4 does not seem competed. One more short-term upside would lead to a finalised 5-wave move, and from there, a correction would be more likely.
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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