WTI Crude Oil: Elliott wave analysis and forecast for 31.03.23 – 07.04.23
Main scenario: consider short positions from corrections below the level of 80.75 with a target of 60.00 – 54.50. Alternative scenario: breakout and consolidation above the level of 80.75 will allow the asset to continue rising to the levels of 88.00 – 94.50. 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 correction formed as the fourth wave of smaller degree iv of C. The fifth wave v of C... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider short positions from corrections below the level of 80.75 with a target of 60.00 – 54.50.
Alternative scenario: breakout and consolidation above the level of 80.75 will allow the asset to continue rising to the levels of 88.00 – 94.50.
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 correction formed as the fourth wave of smaller degree iv of C. The fifth wave v of C... Read full author’s opinion and review in blog of #LiteFinance
