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WTI Crude Oil, Elliot Wave Analysis

2/27/2023 10:22 AM

The price is in a correction and may grow.

On the daily chart, the first wave of the higher level (1) formed, a downward correction develops as the second wave (2), within which the wave А of (2) formed, and the upward wave B of (2) develops. Now, the wave of the lower level c of B is developing, within which the wave (ii) of c has ended. If the assumption is correct, the asset will grow to the area of 85.00–93.60. In this scenario, critical stop loss level is 73.50.




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