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Crude Oil Market Analysis

Solid ECN

Well-known member
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Crude Oil - Growth is possible.​

On the daily chart, the upward wave C develops, within which the first wave 1 of (1) of C formed, and a downward correction ended as the second wave 2 of (1) of C, within which the wave c of 2 formed. Now, the development of the third wave 3 of (1) has started, within which the first entry wave of the lower level (i) of i of 3 has formed, a local correction has ended as the wave (ii) of i of 3, and the wave (iii) of i of 3 is developing.

If the assumption is correct, the asset will grow to the area of 110.40–119.65. In this scenario, critical stop loss level is 88.82.

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Solid ECN

Well-known member

Crude Oil - Growth is possible.​

On the daily chart, the first wave of the higher level (1) formed, the downward correction ended as the second wave (2), and the development of the upward third wave (3) started. Now, the first entry wave of the lower level i of 1 of (3) is developing, within which the wave (iii) of i is forming.

If the assumption is correct, the asset will grow to the area of 103.83 – 115.12. In this scenario, critical stop loss level is 82.2.

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Solid ECN

Well-known member

US Crude Oil​

Yesterday, the oil traders were testing the Additional Zone 90.2 – 90.01. The zone was held up, and the price reached the Gold Zone 92.88 – 92.51, the trend resistance. The oil traders also tried to break this zone upside, but failed.

The price is now trading in the correction and testing the new Additional Zone 91.03 – 90.85. The AZ is the strong support level, where one could enter new purchases according to the pattern with a target at yesterday’s high.

If the AZ is broken out, the correction will continue down to the Intermediary Zone 89.16 – 88.78.

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  • Buy Zone 91.03 - 90.85 | Take Profit: 92.88 | Stop Loss: according to the pattern rules.​
  • Buy Intermediary Zone 89.16 - 88.78 | Take Profit: 92.88 | Stop Loss: according to the pattern rules.​
 

Solid ECN

Well-known member
Crude Oil - A fall is possible.

On the daily chart, a downward correction forms as the second wave of the higher level 2, within which the wave c of 2 develops. Now, the third wave of the lower level (iii) of c has formed, a local correction has ended as the fourth wave (iv) c and the development of the fifth wave (v) of c has started.

If the assumption is correct, the price of the asset will fall to the area of 77.50 – 62.55. In this scenario, critical stop loss level is 100.87.

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Solid ECN

Well-known member
Crude Oil - A fall is possible.

On the daily chart, the first wave of the higher level (1) formed, and a downward correction develops as the second wave (2), within which the wave А of (2) forms. Now, the fifth wave of the lower level v of A is forming, within which the wave (iii) of v is developing.

If the assumption is correct, the price of the asset will fall to the area of 67 – 52.25. In this scenario, critical stop loss level is 90.30.

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