WTI Crude Oil: Elliott wave analysis and forecast for 26.07.24 – 02.08.24

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Highlights and key points

Main scenario: consider short positions from corrections below the level of 83.33 with a target of 72.30 – 67.60. A sell signal: after the level of 83.33 is broken. Stop Loss: 85.00; Take Profit: 67.60.
Alternative scenario: breakout and consolidation above the level of 83.33 will allow the asset to continue rising to the levels of 90.95 – 95.25. A buy signal: after the level of 83.33 is broken. Stop Loss: 82.00; Take Profit: 95.25.

Main scenario

Consider short positions from corrections below the level of 83.33 with a target of 72.30 – 67.60.

Alternative scenario… Read full author’s opinion and review in blog of #LiteFinance

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