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Brent Crude Oil Elliot Wave Analysis
3/24/2023 10:46 AMA fall is possible.
On the daily chart, a downward correction develops as the second wave of the higher level 2, within which the wave c of 2 forms. Now, the third wave of the lower level (iii) of c has formed, a correction has ended as the fourth wave (iv) of c, shaped as triangle a-b-c-d-e, and the fifth wave (v) of c is developing, within which the wave ii of (v) is forming. If the assumption is correct, the price of the asset will fall to the area of 66.00–62.55. In this scenario, critical stop loss level is 86.95.
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