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Brent Crude Oil, Elliot Wave Analysis
8/12/2022 11:20 AMA fall is possible.
On the daily chart, the upward wave C develops, within which the first wave 1 of (1) of C formed, and a downward correction develops as the second wave 2 of (1) of C. Now, the wave c of 2 is developing, within which the wave (iii) of c has developed, a local correction has ended as the wave (iv) of c, and the wave (v) of c is developing. If the assumption is correct, Brent Crude Oil price will fall to the area of 91.90–77.50. In this scenario, critical stop loss level is 110.60.
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