US OIL still has a correction of at least 30% ahead of it. According to the Elliott Wave calculations, we have seen the end of the correction of the superior 2 in April 2020.
Since then, US OIL has risen almost 20000% to the top. Those who were invested then have been able to take good profits. Unfortunately, these times are over. We saw the top at the beginning of the Ukraine war, in March 2022. Since then we are in a correction.
The wave (2) mostly builds up to the 0.618 Fibonacci, which is at $59.72 per barrel. Values to $40 and below are also possible due to the pronounced and steep wave 1.
Once the correction is extended, OIL will extend a wave (3) and surpass the current top at 125$ per barrel.
Since then, US OIL has risen almost 20000% to the top. Those who were invested then have been able to take good profits. Unfortunately, these times are over. We saw the top at the beginning of the Ukraine war, in March 2022. Since then we are in a correction.
The wave (2) mostly builds up to the 0.618 Fibonacci, which is at $59.72 per barrel. Values to $40 and below are also possible due to the pronounced and steep wave 1.
Once the correction is extended, OIL will extend a wave (3) and surpass the current top at 125$ per barrel.