Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Crude Oil Targets $81-82 This Week, Gold Witnesses Corrective Advance

Published 10/15/2014, 01:24 AM
Updated 05/14/2017, 06:45 AM

Crude oil found some support on Friday, but not for long as rally was just a minor fourth wave within ongoing extended wave (iii) that can be targeting 81-82 area this week. From a trading perspective it may be worth to keep an eye on blue wave (iv) to join the downtrend while 88.00 is in place.

Crude OIL (Nov 2014) 1h Elliott Wave Analysis



Gold is up as stocks are down, but despite some solid recovery from 1182 low we see move as a corrective advance. The reason is an overlapping price action within a trading channel that looks like a correction. Therefore we would not be surprised by a bearish turning point. However, bears can be confirmed only by a price; in our case that would be an impulsive drop from the high and through 1216 and 1204 figures

GOLD 1h Elliott Wave Analysis

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.