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Is the S&P 500 heading to 7,000? – Pro market outlook with Elliott Waves on Euro, Gold, Oil and more [Video]

Juan Maldonado Elliott Wave Street

This analysis provides an in-depth review of major markets through the lens of Elliott Wave theory, identifying key opportunities in the euro, S and P 500 futures, gold, and oil.

Euro strategy

The euro is undergoing a corrective wave. A buying opportunity is expected once the fourth wave completes. Traders are advised to watch for a pullback or a new low to consider a long position.

S&P 500 forecast

A bullish breakout scenario is being considered for the S and P 500, with projected targets of 6500 and potentially 7000 points. This view is based on an impulsive wave structure backed by volume and momentum.

Gold outlook

The strategy for gold remains bullish. Pullbacks are often viewed as buying opportunities, particularly when institutional volume confirms accumulation.

Oil setup

A bearish opportunity is forming in the oil market. The plan is to enter short positions after a pullback, aiming for the 66,50–66,00 zone. Extended corrective patterns and weakening demand support this view.

Inflation and institutional volume

The importance of upcoming inflation data was emphasized, along with how volume analysis can reveal institutional behavior, particularly when price slows down as volume rises.

Author

Juan Maldonado

Elliott Wave Street

Juan Maldonado has a University degree in Finance, and Foreign trade started his trading career in 2008. Since 2010 has been analyzing the markets using Elliott Wave with different strategies to spot high probability trades.

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