WTI initiated multi-month correction towards $22 Short

West Texas OilOANDA

Description

⋅ Jun 20, 2020 12:22 PM

Yesterday it reached 50% retracement level.
Last 6 day move formed 5 wave structure (see lower level breakdown below) which is the final wave 5 of the extremely extended move.
Invalidation level $39
Near term target: $35, then $32 and $28-$29 area

4h breakdoan
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1h breakdown
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Wave Analysis