USOIL downtrend forming for wave A of C Short

WTI Light Sweet Crude Oil Future SPOTFXCM

Description

⋅ Aug 8, 2023 11:12 AM

We should expect a heavy drop to $60 level, however a move up from 78 level to 84 before a reversal is for wave 5 to be completed is possible.

We should be able to predict the next move from the $78 level after A daily candle close.

Wave Analysis Chart Patterns