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WTI Crude Oil, Elliot Wave Analysis

1/30/2023 10:11 AM

Growth is possible.

On the daily chart, the first wave of the higher level (1) formed, and a downward correction develops as the second wave (2), within which the wave А of (2) ended, and the upward wave B of (2) forms. Now, the wave of the lower level c of B is developing, within which a local correction is forming as the wave (ii) of c. If the assumption is correct, the asset will grow to the area of 93.25–100.50. In this scenario, critical stop loss level is 76.50.

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