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WTI Crude Oil, Elliot Wave Analysis

11/7/2022 10:28 AM

Growth is possible.

On the daily chart, the first wave of the higher level (1) formed, the downward correction ended as the second wave (2), and the development of the upward third wave (3) started. Now, the first entry wave of the lower level i of 1 of (3) is developing, within which the wave (iii) of i is forming. If the assumption is correct, the asset will grow to the area of 103.83–115.12. In this scenario, critical stop loss level is 82.20.

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