ADS
ADS

[ad_1]

ADS

Main scenario: consider long positions from corrections above the level of  77.77 with a target of 102.00 – 110.00.

Alternative scenario: breakout and consolidation below the level of 77.77 will allow the asset to continue declining to the levels of 73.82 – 66.88.

ADS

Analysis: the first wave of larger degree (1) has presumably formed, a descending correction developed as second wave (2), and the third wave (3) started unfolding in the daily chart. The first wave of a smaller degree 1 of (3) is presumably developing in the H4 chart, with wave iii of 1 forming inside. Apparently, wave (iii) of iii has finished, and a local correction should soon complete as wave (iv) of iii in the H1 chart, with wave a of (iv) forming as its part. If this assumption is correct, the asset’s price will continue to rise to 102.00 – 110.00 after a local correction (iv) of iii finishes. The level of 77.77 is critical in this scenario as a breakout will enable the price to continue declining to the levels of 73.82 – 66.88.

ADS


Price chart of USCRUDE in real time mode

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

Rate this article:

{{value}} ( {{count}} {{title}} )

fbq('init', '485658252430217'); fbq('init', '616406046821517'); fbq('init', '484102613609232'); fbq('init', '1174337663194386'); fbq('init', '5751422914969157'); fbq('init', '3053457171622926'); fbq('init', '5661666490553367'); fbq('init', '714104397005339'); fbq('init', '844646639982108'); fbq('init', '2663733047102697'); fbq('init', '3277453659234158'); fbq('init', '1542460372924361'); fbq('init', '598142765238607'); fbq('init', '2139588299564725'); fbq('init', '1933045190406222'); fbq('init', '124920274043140'); fbq('init', '723845889053014'); fbq('init', '1587631745101761'); fbq('init', '1238408650167334'); fbq('init', '690860355911757'); fbq('init', '193723813127479'); fbq('trackCustom', 'PageView'); console.log('PageView');

[ad_2]

Source link

ADS
ADS

Leave a Reply

Your email address will not be published. Required fields are marked *