Markets run on possible European rate cut

Comments from ECB President Mario Draghi that the governing council had discussed lowering the deposit facility rate at today's policy meeting sent the German's DAX, French's CAC40 and other European markets higher by 2% to 2.5%.

Dow (17,489)

Dow responded by gaining 320 points (+1.87%) on Thursday. This strong candlestick is likely to be the minor wave iii of mini wave 3 of sub-wave iii.

Crude Oil WTI (US$45.55)

Crude oil can either move side way for an a-b-c-d-e sub-wave ii formation.

Or it can have a mini wave 4 rebound followed by a mini wave 5 down to complete the wave c of sub-wave ii.

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