WTI Crude Oil: Elliott wave analysis and forecast for 13.01.2023 – 20.01.2023
Main scenario: consider short positions from corrections below the level of 94.22 with a target of 63.00 – 54.50 once the correction is completed. Alternative scenario: breakout and consolidation above the level of 94.22 will allow the asset to continue rising to the levels of 104.00 – 124.09. Analysis: the first wave of larger degree (1) is presumably formed on the daily chart, and a bearish correction continues developing as second wave (2). Supposedly, wave С of (2) is forming on the H4 chart. It includes a local correction unfolding as wave iv of C. Wave (a) of iv and... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider short positions from corrections below the level of 94.22 with a target of 63.00 – 54.50 once the correction is completed.
Alternative scenario: breakout and consolidation above the level of 94.22 will allow the asset to continue rising to the levels of 104.00 – 124.09.
Analysis: the first wave of larger degree (1) is presumably formed on the daily chart, and a bearish correction continues developing as second wave (2). Supposedly, wave С of (2) is forming on the H4 chart. It includes a local correction unfolding as wave iv of C. Wave (a) of iv and... Read full author’s opinion and review in blog of #LiteFinance
