WTI Crude Oil: Elliott Wave Analysis and Forecast for 29.11.24 – 06.12.24

WTI Crude Oil: Elliott Wave Analysis and Forecast for 29.11.24 – 06.12.24

From litefinance.org

Main scenario: Consider short positions from corrections below the level of 72.50 with a target of 61.50 – 53.60. A sell signal: the price holds below 72.50. Stop Loss: above 73.00, Take Profit: 61.50 – 53.60. Alternative scenario: Breakout and consolidation above the level of 72.50 will allow the asset to continue rising to the levels of 77.90 – 83.75. A buy signal: the level of 72.50 is broken to the upside. Stop Loss: below 72.00, Take Profit: 77.90 – 83.75. A descending correction appears to continue forming as the second wave of larger degree (2) on the weekly chart, with wave С of (2) developing as its ... (full story)

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