Can you hear WTI’s brakes screeching from the chart? Well, we definitely can! Quite vehemently, WTI has hit the brakes just short of the bottom of the blue zone between $91.70 and $87.08 – and rightly so! There isn’t all that much room left to finish wave b in blue! In fact, WTI should complete it no later than the support at $85.73. Then, it should turn around and climb upwards, gradually crossing the resistances at $101.88 and at $105.24 to enter the turquoise zone between $107.12 and $119.94. There, it should finish wave b in turquoise, before moving downwards again. However, there is a 32% chance that WTI could drop below the support at $85.73, which would then trigger further descent.
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📊 Free daily market insights combining macro + Elliott Wave analysis
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🚀 Spot trends early with momentum, sentiment & price structure
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Penerbitan berkaitan
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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.