The SPX lost 2% of its value yesterday but did not mark a correction low yet. It seems prices might turn somewhat sideways now as conversing impulses hint at correction. Can the local low hold firm or print a correction low sooner than later?
Euro has drawn a similar price action against the yen over the past few sessions, but its upside is most probably completed. Based on a running flat in wave 2, an intermediate correction in the final triangle wave might be in the cards. WIll 127 give the signal?
Palladium has soared immensely in the last two months, gaining 60% on what seems to be an impulse of a correction. If the commodity breaks past $2623, the probability of marking fresh highs will increase. But until then, all eyes should remain intact on the expected 5th wave up and what comes after it competes.
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Daily Elliott Wave Forecast: SPX500, EURJPY, XPD (PALLADIUM) (18.02.22)
The SPX lost 2% of its value yesterday but did not mark a correction low yet. It seems prices might turn somewhat sideways now as conversing impulses hint at correction. Can the local low hold firm or print a correction low sooner than later?
Euro has drawn a similar price action against the yen over the past few sessions, but its upside is most probably completed. Based on a running flat in wave 2, an intermediate correction in the final triangle wave might be in the cards. WIll 127 give the signal?
Palladium has soared immensely in the last two months, gaining 60% on what seems to be an impulse of a correction. If the commodity breaks past $2623, the probability of marking fresh highs will increase. But until then, all eyes should remain intact on the expected 5th wave up and what comes after it competes.
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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