Note

WTI CRUDE OIL: WAVE ANALYSIS

· Views 22



WTI CRUDE OIL: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point81.05
Take Profit60.00, 52.00
Stop Loss83.58
Key Levels52.00, 60.00, 83.58, 88.80, 95.30
Alternative scenario
RecommendationBUY STOP
Entry Point83.60
Take Profit88.80, 95.30
Stop Loss81.85
Key Levels52.00, 60.00, 83.58, 88.80, 95.30

A fall 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 C of (2) develops. Now, the first wave of the lower level i of C of (2) has formed, a local correction has developed as the second wave ii of C of (2), and the third wave iii of C of (2) has started. If the assumption is correct, the price of the asset will fall to the area of 60.00–52.00. In this scenario, critical stop loss level is 83.58.

WTI CRUDE OIL: WAVE ANALYSIS

WTI CRUDE OIL: WAVE ANALYSIS

Main scenario

Short positions will become relevant below the level of 83.58 with the targets at 60.00–52.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 83.58 will let the asset grow to the area of 88.80–95.30.


Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.