WTI is done recovering and has finished wave b in blue. Already, it is stretching upwards, striving to work on our primary scenario. We expect the marker crude to climb above the resistance at $97.66 and into the turquoise zone between $99.97 and $113.53, where it should complete wave b in turquoise. After this feat, WTI should relax once more and fall into the green zone between $70.12 and $35.77 to conclude the overarching downwards movement. There is a 35% chance, though, that WTI could tackle this task directly, dropping below the support at $76.25 earlier already.
📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.