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rasaqdayo
Jul 9, 2023 5:38 PM

OIL ...Path A or B Long

WTI CRUDE OILTVC

Description

This analysis is based on Elliot wave, channel and fib. There is a strong resistance here, break higher means we keep going higher. I prefer to see the second path where there is retracement before breaking higher.

Comment

Remember 68.6/68.5 is also possible retracement cos oil usually tend to go lower
Comments
dresipent
...technically we are at the upper bands, so a correction must come soon. But the longs are still very strong at the moment, even if it goes up and up every single day.
donavan218
dresipent
According to the trading textbooks it must retest breakout level around 71-72 before it forther can go up. We will see, if textbooks are right? ;-)
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