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Brent Crude Oil, Elliot Wave Analysis

12/2/2022 10:20 AM

A fall is possible.

On the daily chart, a downward correction forms as the second wave of the higher level 2, within which the wave c of 2 develops. Now, the development of the fifth wave (v) of c has started, the wave i of (v) is developing, and the local correction is forming as the wave ii of (v). If the assumption is correct, the price of the asset will fall to the area of 72.50–62.55. In this scenario, critical stop loss level is 100.87.

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