Hello friends
On the oil chart, we are witnessing the formation of a 5-wave bullish pattern, which indicates an increase in the value of oil. This 5-wave bullish wave has completed wave 5 of 5.
Between waves 2 and 4, we also witness an alternation, and wave 3 has more microwaves or, so to speak, more complexity, and this is a confirmation of our analysis.
This means that the price increase has reached its end. The possibility of an increase in the price of oil is very small, unless wave 5 forms more complex microwaves (such as wave 3, which has more microwaves).
Now these 5 waves can be wave 1 or A, and the corrective wave after that is wave 2 or B, which I give a higher probability of forming 5 waves.
In both cases, the price of oil must correct.
This correction can continue to 50% ($ 76) or the downward trend line of the previous wave, which is the 76.8% Fibonacci range ($ 73).
Be successful and profitable.
On the oil chart, we are witnessing the formation of a 5-wave bullish pattern, which indicates an increase in the value of oil. This 5-wave bullish wave has completed wave 5 of 5.
Between waves 2 and 4, we also witness an alternation, and wave 3 has more microwaves or, so to speak, more complexity, and this is a confirmation of our analysis.
This means that the price increase has reached its end. The possibility of an increase in the price of oil is very small, unless wave 5 forms more complex microwaves (such as wave 3, which has more microwaves).
Now these 5 waves can be wave 1 or A, and the corrective wave after that is wave 2 or B, which I give a higher probability of forming 5 waves.
In both cases, the price of oil must correct.
This correction can continue to 50% ($ 76) or the downward trend line of the previous wave, which is the 76.8% Fibonacci range ($ 73).
Be successful and profitable.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.