Hellena | Oil (4H): Long to 100% Fibo lvl 81.85.

Dear colleagues, earlier I wanted to write a forecast with a deep correction, but after reviewing the data I suppose that the price will go higher. I assume that it will be wave 2, but for now I expect a small correction to the support area of 78.88. Then I expect an upward movement to the area of 100% Fibonacci extension at 81.85.

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Comment:

Dear colleagues, the price has reached the support area at 78.88. I suppose that wave 2 is either over or will be over soon. The price may reach the level of 78.00, but from this point I consider only long positions.