Elliott Wave Analysis: Crude Oil and German DAX
Good day traders! Todays focus is on Crude oil and German DAX.

Crude oil is turning sharply higher this week, unfolding a possible new impulsive wave to the upside so it looks like that price found a low for the previous a-b-c pullback at the 49.07 region. That said, we also see price trading around 51.16 level where a decisive breach above it would confirm more gains for days ahead. That said, we are observing first wave i of a higher degree impulse, so be prepared on more upside after wave two pullback. Support is seen near 50.00.

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Crude OIL, 4H

oil 4h

Dax is trading strongly higher, now unfolding final wave 5) of a bullish impulse, so be aware of areversal that may follow, once current wave 5) finds a top near 13100/13200 region, which is our next target zone from current consolidation.

German DAX, 4H

dax, 4h

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