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.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.