The SPX500 is falling, but the move could simply be a correction in wave 4 of (1). If bears push the index below wave 1, things will get more bearish, but until then, wave 5 is coming up next.
WTI oil fell below the internal swing high since yesterday, invalidating the main variation. However, a leading diagonal has formed, and this should offer a short-term dip before continuing up in wave 5.
Yen has stopped at the 78.9% correction of the 131.31-126.43 leg against the dollar, hinting at the end of the correction that usually follows a leading diagonal. Can it hold against bulls, or will the alternative scenario take over?
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Daily Elliott Waves Forecast: SP500, US OIL, USDJPY (02.06.22)
The SPX500 is falling, but the move could simply be a correction in wave 4 of (1). If bears push the index below wave 1, things will get more bearish, but until then, wave 5 is coming up next.
WTI oil fell below the internal swing high since yesterday, invalidating the main variation. However, a leading diagonal has formed, and this should offer a short-term dip before continuing up in wave 5.
Yen has stopped at the 78.9% correction of the 131.31-126.43 leg against the dollar, hinting at the end of the correction that usually follows a leading diagonal. Can it hold against bulls, or will the alternative scenario take over?
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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