WTI Crude Oil: Elliott wave analysis and forecast for 14.07.23 – 21.07.23
Main scenario: consider long positions from corrections above the level of 67.00 with a target of 84.00 – 94.70. Alternative scenario: breakout and consolidation below the level of 67.00 will allow the asset to continue declining to the levels of 61.65 – 54.50. Analysis: the first wave of larger degree (1) is presumably formed on the daily chart, and a descending correction developed as second wave (2). The third wave (3) presumably started forming on the H4 chart, with wave i of 1 of (3) and a correction ii of 1 of (3) completed as its part. Wave iii of... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions from corrections above the level of 67.00 with a target of 84.00 – 94.70.
Alternative scenario: breakout and consolidation below the level of 67.00 will allow the asset to continue declining to the levels of 61.65 – 54.50.
Analysis: the first wave of larger degree (1) is presumably formed on the daily chart, and a descending correction developed as second wave (2). The third wave (3) presumably started forming on the H4 chart, with wave i of 1 of (3) and a correction ii of 1 of (3) completed as its part. Wave iii of... Read full author’s opinion and review in blog of #LiteFinance
