Commodities

Elliott Wave Analysis & Forecast, WTI Crude Oil – OILUSD, H4, 20190124

Elliott Wave Analysis & Forecast, WTI Crude Oil – OILUSD, H4, 20190124

Crude completed its blue wave 3 at 50.59 on 5th June, 19. After that correction wave (blue 4) has started and the ideal target for this wave should be 38% Fibonacci level. Remember elliott wave rule  that blue wave c could reach at level of 60 just below the end of blue wave 1. Buyers can enter into trade from current price or better targeting 55.60 and 57.0 area  while safe stop loss could be at 50.75.

 

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