Crude in the middle of an impulsive recovery

14 ביולי 2023

Crude oil is in a nice uptrend, making some very clear extended impulse from 70.20 area where fifth wave can be extended. We also see price now approaching the 161.8% Fib target, so intraday traders should be aware of some slowdown, possibly back into wave four before uptrend may resume. If wave four is really near, then nice support is at 75.32.

Also, at the same time USDCAD and USDNOK pairs can stay bearish.