Sun, Dec 04, 2022 @ 09:07 GMT
HomeContributorsTechnical AnalysisElliott Wave View: Dow Futures

Elliott Wave View: Dow Futures

Short term YM_F (Dow E-Mini Future) Elliott Wave view suggests the rally from 6/29 low is unfolding as a double three Elliott wave structure and ended with Minor wave W at 21628. Down from there, Minor wave X pullback unfolded as a running Elliott Wave flat. Minute wave ((a)) ended at 21457, Minute wave ((b)) ended at 21624, and Minute wave ((c)) of X ended at 21444. Index has since made a new high suggesting the next leg higher has started. Up from 21444 low, Sub Minutte wave a ended at 21640. And Sub Minutte wave b pullback ended at 21524, while above there expect Index to extend higher again.

Near term focus remains towards 21719-21769 100%-123.6% extension area from 21444 low to end the Minutte wave (w) higher. The index then has scope to see a pullback, which should then find buyer’s again in sequence of 3, 7 or 11 swings for further upside provided the pivot at 21444 low remains intact. We don’t like selling the Index and favors buying the dips against 21444 low in the first degree. If pivot at 21444 low fails, then the move higher from 6/29 (21138) can be seen as a 5 waves diagonal. In this case, Index should pullback in 3, 7, or 11 swing to correct cycle from 6/29 low before the rally resumes.

Dow E-Mini Future 1 Hour Elliott Wave View

Elliott Wave Forecast
Elliott Wave Forecasthttps://elliottwave-forecast.com
ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including Forex majors & crosses, Commodities and a number of Equity Indices from around the World. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Elliott Wave Setup videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Featured Analysis

Learn Forex Trading