WTI Crude Oil: Elliott wave analysis and forecast for 17.02.23 – 24.02.23
Main scenario: consider short positions from corrections below the level of 82.38 with a target of 63.00 – 54.50. Alternative scenario: breakout and consolidation above the level of 82.38 will allow the asset to continue rising to the levels of 94.70 – 104.00. 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 formed as the fourth wave of smaller degree iv of C. The fifth wave of smaller... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider short positions from corrections below the level of 82.38 with a target of 63.00 – 54.50.
Alternative scenario: breakout and consolidation above the level of 82.38 will allow the asset to continue rising to the levels of 94.70 – 104.00.
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 formed as the fourth wave of smaller degree iv of C. The fifth wave of smaller... Read full author’s opinion and review in blog of #LiteFinance
