WTI Crude Oil: Elliott wave evaluation and forecast for 19.08.22 – 26.08.22

WTI Crude Oil: Elliott wave evaluation and forecast for 19.08.22 – 26.08.22

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Predominant situation: think about lengthy positions from corrections above the extent of 86.25 with a goal of 104.15 – 115.90.

Various situation: breakout and consolidation beneath the extent of 86.25 will enable the asset to proceed declining to the degrees of 80.00 – 69.28.

Evaluation: apparently, the primary wave of bigger diploma (1) continues growing on the every day chart, with wave 3 of (1) shaped inside. A downward correction is presumably accomplished on the H4 chart because the fourth wave 4 of (1), with wave c of 4 developed as its half. Apparently, the fifth wave 5 of (1) began growing on the H1 chart, with the primary counter-trend wave of smaller diploma (i) of i of 5 forming as its half. If the presumption is right, the asset’s worth will proceed to rise to the degrees of 104.15 – 115.90. The extent of 86.25 is vital on this situation as a breakout will allow the value to proceed declining to the degrees of 80.00 – 69.28.



Worth chart of USCRUDE in actual time mode

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