The SPX500 rose 1% on Monday, printing a low. But it is unlikely to be wave 4 as the impulsive bearish structure from 4630 adds to the downward sentiment. Going into a consolidation would imply we go higher once it is complete.
Aussie soared nearly 2% since the weekly open but its pattern suggests the trend could end soon. As part of an expanded wave C, bulls face serious resistance at 76c. If we break there, the main scenario could be invalid.
Cotton spiked some 3% as well, adding to the support low, and continues to look bullish in the short-term. However, a correction is expected at any time soon as the 5th wave of the 5-wave impulse from $48 nears its end.
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.
Daily Elliott Waves Forecast: SP500, AUDUSD, COTTON (05.04.22)
The SPX500 rose 1% on Monday, printing a low. But it is unlikely to be wave 4 as the impulsive bearish structure from 4630 adds to the downward sentiment. Going into a consolidation would imply we go higher once it is complete.
Aussie soared nearly 2% since the weekly open but its pattern suggests the trend could end soon. As part of an expanded wave C, bulls face serious resistance at 76c. If we break there, the main scenario could be invalid.
Cotton spiked some 3% as well, adding to the support low, and continues to look bullish in the short-term. However, a correction is expected at any time soon as the 5th wave of the 5-wave impulse from $48 nears its end.
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.
Open account
Latest Posts
Amega launches a brand new client area… and the crowd goes wild!
16 November 2023Amega reduces spreads up to 50%
25 September 2023Amega is going to the Traders Fair South Africa, 2023
14 September 2023Copycats: How social trading is changing the game.
18 July 2023BRENT 14.07.2023
14 July 2023Categories
Tags