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IBEX Short-term Elliott Wave Analysis 3.30.2016

Short term Elliottwave structure suggests rally to 9218.68 ended wave ((4)) and the Index has resumed lower. Wave W decline from 9218.68 is unfolding as a double correction where wave ((w)) ended at 8783.4, wave ((x)) ended at 9138.8, and wave ((y)) of W is in progress towards 8675.32 – 8745.94 area. Once wave W is complete, Index should bounce in wave X before turning lower again. We don’t like buying the proposed bounce and expect the Index to resume lower once wave X bounce is complete in 3, 7, or 11 swing as far as 9218.68 pivot stays intact.

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IBEX Short-term Elliott Wave Analysis 3.31.2016

Short term Elliottwave structure suggests rally to 9218.68 ended wave ((4)) and the Index has resumed lower. Down from 9218.68, wave W ended at 8753. Wave X bounce is currently in progress as a double correction where wave ((w)) ended at 8960.7, and while wave ((x)) pullback stays above 8753, the Index has scope to do another leg higher in wave ((y)) of X before turning lower. We don’t like buying the proposed push higher in wave X and expect the Index to resume the decline either to new low or at least in 3 waves pullback once wave X bounce is complete as far as 9218.68 pivot stays intact.

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At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

USDJPY Short-term Elliott Wave Analysis 4.6.2016

Short term Elliottwave structure suggests decline from wave ((X)) at 113.8 is unfolding as a zig zag structure (5-3-5 structure) where wave (a) ended at 111.98, wave (b) ended at 112.67, and wave (c) of ((w)) is proposed complete at 109.93. Pair is currently correcting the decline from 113.786 in wave ((x)) towards 111.86 – 112.31 area, then as far as wave ((X)) at 113.8 pivot stays intact during the bounce, expect the pair to extend to the downside once wave ((x)) bounce is complete in 3, 7, or 11 swing. We don’t like buying the proposed bounce in wave ((x)).



At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

USDJPY Short-term Elliott Wave Analysis 4.7.2016

Revised short term Elliottwave structure suggests decline from wave ((X)) at 113.8 is unfolding as an impulse 5 waves structure where wave ((i)) ended at 111.98, wave ((ii))) ended at 112.67, and wave ((iii)) is in progress. Internal of wave ((iii)) is also in impulsive structure and wave (iii) of ((iii)) is expected to complete at 108.58 – 108.98 area, then it should bounce in wave (iv) of ((iii)) before the decline resumes in wave (v) of ((iii)). We don’t like buying the proposed bounce in wave (iv) of ((iii)) and as far as pivot at 110.65 stays intact during the bounce, expect the pair to resume lower again in wave (v) of ((iii)).

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At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trialto sample everything EWF has to offer

USDJPY Short-term Elliott Wave Analysis 4.8.2016

Revised short term Elliottwave structure suggests that rally to 113.8 ended wave ((X)). Wave (W) decline from there has an internal of a triple correction (WXYZ) structure where wave W ended at 111.98, wave X ended at 112.67, wave Y ended at 110.23, 2nd wave X ended at 110.54, and wave Z of (W) is proposed complete at 107.66. Wave (X) bounce is currently in progress to correct the decline from 113.82 and as far as 113.82 pivot stays intact during the bounce, expect the pair to resume the decline again once wave (X) bounce is over in 7 or 11 swing. We don’t like buying the proposed bounce in wave (X).

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At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

Why NZDJPY may continue lower

In our past article dated Feb 21 titled “Weak NZ Inflation in 4Q 2015 may force RBNZ to cut rate“, we lay out a case that RBNZ (Reserve Bank of New Zealand) is one of the few central banks which still has conventional monetary policy in their toolbox to battle low inflation. With the latest quarterly inflation released in Jan 19, 2016 showing only a 0.1% inflation yoy in New Zealand, as we expected, RBNZ reduced the Official Cash Rate (OCR) by 25 basis points to 2.25% in their last March 9 meeting.

In the same article above, we also mentioned $NZDJPY as the pair to watch since the pair is showing a 5 swing sequence from Oct 23, 2015 and also testing the weekly trend support. The pair didn’t immediately drop after the rate cut. Instead, it rallied until March 31 before turning lower again. Our downside bias however remains the same in the pair, as seen in our 4 hour Elliottwave chart on April 7 below:



From March 31, $NZDJPY has since continued lower and it looks to have broken below the weekly trend support now, as seen in the chart below. The pair has also made a new low below the Feb 8 low. The balance of evidence therefore suggests that the pair may have more downside. A break below August 24 low at 72.36 should give further weight to the downside. Looking at the weekly chart, the next potential target is 69.25 support.

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Fundamentally, RBNZ ‘s March Monetary Policy Statement (MPS) mentions that the outlook for global growth has deteriorated due to the weaker growth in China, and headline inflation remains low. In addition, RBNZ also cites the trade-weighted exchange rate is more than 4% higher than projected in December, and that a decline will be appropriate. Lastly, it says further policy easing maybe required. From the language of the last MPS, we can therefore conclude that RBNZ is not very happy with the continued appreciation in New Zealand dollar, and the bank also has some more room to ease policy further if needed to combat low inflation and excessive strength in the local currency.

Both fundamental and technical outlook for the pair seem to suggest the downside as the path of least resistance. Besides, $NZDJPY is typically considered as a carry trade instrument and this type of instrument usually rallies when the risk sentiment is good but falls when volatility is high. Although risky assets (i.e. indices) have risen from the February low, second quarter and summer is seasonally weak for the stock market and thus we can see decent correction in indices if not continuation lower, which can translate to poor performance in carry trade. We have also argued in our article dated April 1 titled “Revisiting China for the Path of Global Indices” that the downside in China market and some other global indices are likely not over yet, and we could be close to the turning point.

Conclusion: Combination of technical factors ($NZDJPY breaking the weekly trend support), seasonality (weak performance in risky assets during summer), and fundamental factors (RBNZ not happy with excessive strength in NZD and the bank’s ability to cut rate further) may give pressure to $NZDJPY during the second quarter and path of least resistance can be the downside.

Knowing the direction however is not enough in trading. More important is the correct trading execution, that is trading in the right inflection areas with a logical entry and defensive plan. For further information on how to find inflection areas to trade $NZD/USD, $NZD/JPY, other forex pairs, indices, or commodities using Elliottwave and our unique trading method of 3-7-11, sign in today for the limited time only FREE 14 Day Trial to see our Hourly, 4 Hour, Daily and Weekly Technical Analysis.

GBPUSD Short-term Elliott Wave Analysis 4.12.2016

Short term Elliottwave structure suggests that the decline to 1.4 ended wave (B) of a larger degree triangle. Wave (C) rally is unfolding as a double three where wave W ended at 1.4287, and wave X pullback is in progress to correct the rally from 1.4 in 3, 7, or 11 swing before turning higher again. Potential target for wave X pullback is towards 1.411 – 1.4144 area (50 – 61.8 retracement), then as far as 1.4 pivot stays intact during the pullback, expect another leg higher in wave Y towards the equal leg of (B)-W-X to complete wave (C). We don’t like selling the proposed pullback.

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GBPUSD Short-term Elliott Wave Analysis 4.13.2016

Short term Elliottwave structure suggests that the decline to 1.4 ended wave (B) of a larger degree triangle. Wave (C) rally is unfolding as a double three where wave W ended at 1.4348, and wave X pullback is in progress to correct the rally from 1.4 in 3, 7, or 11 swing before turning higher again. Potential target for wave X pullback is towards 1.4134 – 1.4175 area (50 – 61.8 retracement), then as far as 1.4 pivot stays intact during the pullback, expect another leg higher in wave Y towards the equal leg of (B)-W-X to complete wave (C). We don’t like selling the proposed pullback.



At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

GBPUSD Short-term Elliott Wave Analysis 4.14.2016

Short term Elliottwave structure suggests that the decline to 1.4 ended wave (B) of a larger degree triangle. Wave (C) rally is unfolding as a double three where wave W ended at 1.4348, and wave X pullback is in progress to correct the rally from 1.4 in 7 swing before turning higher again. The first three swing correction in wave ((w)) is expected to end at 1.408 – 1.413 area, then it should bounce in wave ((x)) before turning lower 3 more swings to finish wave X. Once wave X is complete, the pair is expected to resume higher in wave Y of (C).

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At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

USDJPY Short-term Elliott Wave Analysis 4.15.2016

Short term Elliottwave structure suggests that wave W rally from 4/7 low (107.66) is unfolding as a flat where wave ((a)) ended at 108.99, wave ((b)) ended at 107.6, and wave ((c)) is in progress with internals as 5 waves. Wave (v) of ((c)) is currently in progress towards 109.94 – 110.34 area and this should complete wave W. Afterwards, a larger pullback in wave X should take place to correct the rally from 4/7 low before the pair resumes higher again. As far as 107.66 pivot stays intact during wave X pullback, expect the pair to extend higher in wave Y.

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At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

What to expect with Oil from Doha meeting in April 17

In our article dated Dec 13, 2015 titled “What OPEC decision means to Oil and $USDCAD” we wrote about the oil revolution; the rise of shale oil producers from North America and the OPEC cartel trying to fight against this threat by flooding the market with conventional oil to fight for market share and also drive out the higher-cost shale rivals. This strategy by OPEC has created an over-supplied condition in the oil market and has caused oil price to plunge 60% in just a little more than a year from $100 in the middle of 2014 to $40 in December 2015. We said in the December article that as long as there’s no end in sight in this price war, oil is going to continue to slide until OPEC has no choice other than to take action to reduce the glut.

In December 4, 2015 OPEC annual meeting, speculation started to emerge that OPEC members might attempt to cap production volume to prevent further price slide. Smaller OPEC member such as Venezuela has voiced concern over the oil price and wanted the cartel to take action to stabilize the market. However, with Iran soon to be free from the oil embargo at the time of the meeting, Saudi Arabia as the biggest oil producer in OPEC wanted to wait and see and unwilling to make a move. The failure to reach an agreement caused oil price to spiral down further from the already low price of $41 in December 2015 to just $28 in early February 2016 before the bleeding finally stopped.

The catalyst for the bounce came from a meeting in February 16 in which Saudi Arabia, Russia, and several key OPEC members agreed to freeze oil output production at the January level, if other suppliers follow suit. This news is what the market wants to hear, and oil has continued to recover from $28 low in February and now back to $42 in April (50% increase). There will be another summit this coming Sunday April 17 at Doha to secure commitment from a wider range of countries both inside and outside the OPEC cartel to freeze output production.

Oil analysts are skeptical that freezing output production at the January level will solve the oil glut for several reasons. First of all, freezing production output at January level means it is just maintaining the existing high production output, instead of reducing the production volume. Secondly, country like Iran whose economic sanction is recently lifted has also indicated they would not join the freeze and intend to raise production output from 3.1 million barrels to 4 million barrels a day. Last but not least, even if agreement to freeze production output can be reached from a wider range of producers and oil rally extends, this will encourage new supply from the US shale drillers and give pressure back to oil price.

Despite the limited impact of the production freeze to reduce the global supply glut, oil price still reacted positively due to the overextended selloff. At minimum, the summit is a positive sign as it demonstrates that oil participants are no longer indifferent about what happen in the market. If participants can come out from the summit this Sunday with a broader agreement to freeze output or some other measures, oil rally may continue. However, if the meeting falls apart, then oil could retrace back the rally from the February low.

Technical Analysis



Similar to USD Index, Oil completed the cycle from 2014 peak and it is currently doing the biggest correction if not already formed the weekly low. As shown in the chart above, Oil has broken above the 2014 weekly trend line channel and it has also made a sequence of higher high. Thus, regardless what the outcome of the Doha meeting is, the path of least resistance for Oil is to the upside. Even if the meeting does not produce good result and oil is pulling back, it is likely still to get support from the broken weekly channel.

If you enjoy this article, you are welcome to read other technical articles at our Technical Blogs and check Chart of The Day. For further information on how to find levels to trade Oil, Gold, or other commodities, indices, and forex using Elliottwave, take our FREE 14 Day Trial. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits.

AUDJPY Short-term Elliott Wave Analysis 4.19.2016

Short term Elliottwave structure suggests that dip to 80.66 ended wave (X). Rally from there ended wave ((w)) flat at 84.77, wave ((x)) pullback ended at 82.09, and pair has resumed the rally higher in wave ((y)) of (Y) towards 86.13 – 87.1 area. Near term, there’s enough number of swing to call wave (w) complete, although a marginal high still can’t be completely ruled out. Pair is expected to pullback soon in wave (x) to correct the rally from 4/18 wave ((x)) low before the rally resumes. We don’t like selling the proposed pullback in wave (x) and expect more extension higher once wave (x) is complete in 3, 7, or 11 swing while the pullback stays above 82.09, and more importantly as far as 80.66 pivot stays intact.

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AUDJPY Short-term Elliott Wave Analysis 4.20.2016

Short term Elliottwave structure suggests that dip to 80.66 ended wave (X). Rally from there ended wave ((w)) flat at 84.77, wave ((x)) pullback ended at 82.09, and pair has resumed the rally higher in wave ((y)) of (Y). From wave ((x)) low at 82.09, rally is unfolding as a zigzag where wave (a) ended at 85.46, and pair is now expected to pullback in wave (b) with possible target of 83.36 – 83.76 (50 – 61.8 retracement) before turning higher again. We don’t like selling the proposed pullback and expect buyers to appear once wave (b) pullback is complete in 3, 7, or 11 swing as far as 82.09 pivot stays intact.

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At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

USDJPY Short-term Elliott Wave Analysis 4.21.2016

Short term Elliottwave structure suggests that dip to 107.73 ended wave X. Rally from there is unfolding as a double three structure where wave ((w)) flat ended at 109.48, wave ((x)) pullback ended at 108.74, and pair has resumed the rally higher in wave ((y)) of Y towards 110.5 – 110.9 area. Near term, while wave (x) pullback stays above 108.74, expect the pair to resume higher again towards 110.5 – 110.9 area and end the cycle from 4/18 low. We don’t like selling the proposed pullback in wave (x) and expect buyers to appear once wave (x) pullback is complete in 3, 7, or 11 swing at 109.01 – 109.32 area (50 – 76.4 retracement) as far as 108.74 pivot stays intact.

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At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

USDJPY Short-term Elliott Wave Analysis 4.22.2016

Short term Elliottwave structure suggests dip to 107.73 ended wave X. Rally from there is unfolding as a double three structure where wave ((w)) flat ended at 109.48, wave ((x)) pullback ended at 108.74, and pair has resumed the rally higher in wave ((y)) of Y towards 110.5 – 110.9 area. Near term, while wave b pullback stays above 108.74, expect the pair to resume higher again towards 110.5 – 110.9 area and end the cycle from 4/7 low and 4/18 low. We don’t like selling the proposed pullback in wave b and expect buyers to appear once wave b pullback is complete in 3, 7, or 11 swing as far as 108.74 pivot stays intact. Afterwards, expect a 3 waves pullback to correct cycle from 4/7 low



At EWF we offer 24 hour coverage of 50 instruments from Monday Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

CADJPY Short-term Elliott Wave Analysis 4.26.2016

Short term Elliottwave structure suggests that cycle from 4/7 low remains in progress as a triple three where wave W ended at 85.7 (4/13 high), wave X ended at 83.07 (4/18 low), and wave Y is proposed complete at 88.37 (4/23 high). Second wave X pullback is in progress to correct the rally from wave X low at 83.07 (4/18 low), and as far as pivot at 83.07 is intact in the pullback, pair is expected to resume the rally higher again. Near term, from wave Y peak at 88.37, pair ended first swing wave ((a)) at 87.39, and while pair stays above wave (x) blue at 87.33, it has scope to make another leg higher to finish second swing wave ((b)) towards 87.9 – 88.15 area before turning lower in the third swing wave ((c)). If the pair breaks below 87.33, then the pair has resumed lower in wave ((c)) to continue the correction to the rally from 4/18 low. We don’t like selling the proposed pullback and expect buyers to appear after wave ((c)) of X correction is over in 3, 7, or 11 swing as far as 83.07 pivot stays intact.

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At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

CADJPY Short-term Elliott Wave Analysis 4.27.2016

Short term Elliottwave structure suggests that cycle from 4/7 low (81.7) remains alive as a triple three where wave W ended at 85.7 on 4/13, wave X ended at 83.07 on 4/18, wave Y ended at 88.37 on 4/25, and 2nd wave X pullback is proposed complete at 87.28 on 4/26. Near term, while dips stay above 87.28, pair is favored to resume higher again in wave (c) of Z towards final target as high as 90.4 to end the cycle from 4/7 low at least. We don’t like selling the proposed pullback in the pair and expect buyers to appear after wave (b) pullback is complete in 3, 7, or 11 swing as far as 87.28 pivot stays intact.

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At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

Oil Short-term Elliott Wave Analysis 4.28.2016

Short term Elliottwave structure suggests that rally from 35.23 on 4/5 remains alive as a triple three where wave W ended at 42.42 on 4/13, wave X ended at 37.61 on 4/18, wave Y ended at 44.49 on 4/21, and 2nd wave X pullback is proposed complete at 42.51 on 4/28. Near term, while dips stay above 42.51, oil is favored to resume higher in wave (y) of ((w)) towards 46.49 – 47.14 area, then it should pullback in wave ((x)) to correct the rally from 4/28 low before higher again. We don’t like selling the proposed pullback and expect oil to resume higher towards 46.49 as far as 42.51 pivot stays intact.

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At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trialto sample everything EWF has to offer

Sugar $SB_F Short-term Elliott Wave Analysis 5.3.2016

Short term Elliottwave structure suggests that decline to 13.99 ended wave X. Rally from there is unfolding as a triple three where wave (w) ended at 15.6, wave (x) ended at 15.01, and wave (y) is proposed complete at 16.47. Second wave (x) pullback is currently in progress towards 15.56- 15.74 area as 3 swings correction before Sugar resumes higher again. We don’t like selling the proposed pullback and prefer buying dips in 3, 7, or 11 swing as far as 13.99 pivot stays intact.

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At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

Sugar $SB_F Short-term Elliott Wave Analysis 5.4.2016

Short term Elliottwave structure suggests that decline to 13.99 ended wave X. Rally from there is unfolding as a triple three where wave (w) ended at 15.6, wave (x) ended at 15.01, wave (y) is proposed complete at 16.47, and 2nd wave (x) pullback is proposed complete at 15.88. While pullbacks stay above 15.88, and more importantly as far as 13.99 pivot stays intact, expect Sugar to resume higher towards 16.89 – 17.13 area to finish wave w, then it should pullback in wave x before higher again to 17.51 – 17.89. We don’t like selling the proposed pullback and favor more upside against 15.88 in the first degree, and against 13.99 in the second degree.

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At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer