By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Elliott Wave Analysis: Dow Futures (YM) Anticipating Double Correction [Video]
Share
Notification Show More
Latest News
L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World
Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide
Crypto
Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025
Business Crypto
Moscow Metro Marks 90 Years with Technological Advancements and Heritage Events
Lifestyle World
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > Elliott Wave Analysis: Dow Futures (YM) Anticipating Double Correction [Video]
Forex

Elliott Wave Analysis: Dow Futures (YM) Anticipating Double Correction [Video]

News Room
Last updated: 2024/12/31 at 6:05 PM
News Room
Share
2 Min Read
SHARE

The short-term Elliott Wave view of Dow Futures (YM) suggests that a larger correction is expected against the cycle from the 3.15.2023 low, with the correction unfolding in 3, 7, or 11 swings. The rally to 45183 marked the end of the cycle from the 3.15.2023 low, labeled as wave ((3)) on the 1-hour chart. The current wave ((4)) pullback is in progress to correct that cycle, with the internal subdivision of wave ((4)) unfolding as a double three Elliott Wave structure. Wave A ended at 43941, wave B rally ended at 44556, and wave C lower ended at 42496, completing wave (W) in a higher degree.

The rally in wave (X) unfolded as a zigzag Elliott Wave structure, with wave A ending at 43663, wave B at 42928, and wave C higher at 43746, completing wave (X). The index has turned lower in wave (Y), but it still needs to break below wave (W) at 42496 to confirm this view. As long as the pivot at 45183 high stays intact, the index is expected to extend lower in the near term. The potential target for wave (Y) lower is the 100% – 161.8% Fibonacci extension of wave (W), which comes in the 39403 – 41060 area where buyers could potentially step in for more upside or a 3-wave rally at least.

In summary, the Dow Futures (YM) is currently undergoing a correction against the cycle from the 3.15.2023 low, with the current wave ((4)) pullback unfolding as a double three Elliott Wave structure. The index has turned lower in wave (Y) and could potentially target the 39403 – 41060 area for a bounce. Traders should keep an eye on the key pivot level at 45183 high for confirmation of the continued downside momentum. This analysis provides a roadmap for potential price movements in Dow Futures (YM) in the short term, based on Elliott Wave theory and Fibonacci retracement levels.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room December 31, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Qatar Media Center hosts a workshop on creating short films
Next Article Sahm App Achieves Over One Million Users in One Year, Enhancing Trading Experience with Innovation
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle May 23, 2025
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World May 22, 2025
Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide
Crypto May 22, 2025
Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025
Business Crypto May 20, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?