The SPX500 has fallen to expected levels for the completion of a 5-wave move in wave A of (Y). However, the 5th internal wave has not been printed as of yet, with a short-term downside becoming more likely than not. From there, a relief rally could be seen in wave B.
Crude oil found resistance at the descending triangular trendline we revealed last week and turned. With a throwover formed, this could be the beginning of wave C of (4). If that’s the case, prices are projected to go closer to 90/bbl than 110/bbl.
Pfizer has a structure that suggests a supercycle wave five has been completed. However, in the short term, this can easily be a case where we receive a larger ending diagonal to complete the structure or even a 5-wave impulse.
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Daily Elliott Wave Forecast: SPX500, WTI, PFIZER (02.05.22)
The SPX500 has fallen to expected levels for the completion of a 5-wave move in wave A of (Y). However, the 5th internal wave has not been printed as of yet, with a short-term downside becoming more likely than not. From there, a relief rally could be seen in wave B.
Crude oil found resistance at the descending triangular trendline we revealed last week and turned. With a throwover formed, this could be the beginning of wave C of (4). If that’s the case, prices are projected to go closer to 90/bbl than 110/bbl.
Pfizer has a structure that suggests a supercycle wave five has been completed. However, in the short term, this can easily be a case where we receive a larger ending diagonal to complete the structure or even a 5-wave impulse.
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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