Hi All! A day off is a good time for reflection.
Oil Price Outlook: Potential Fifth Wave Impulse Up
There is a high probability that oil prices, having broken through the upper boundary of the regression channel, may continue their upward movement with a target in the 81.20–84.00 range. This could be the fifth wave of an upward impulse.
Wave Structure Analysis:
✅ Wave 1 – Leading diagonal
✅ Wave 2 – Double zigzag
✅ Wave 3 – Strong upward movement
✅ Wave 4 – Deep correction as a single zigzag, reaching the maximum possible level of 71.50
‼️ Further decline invalidates this scenario.
Technical Confirmation:
🔹 Bullish divergence is clearly visible on both the H1 and H4 charts.
🔹 AO and RSI indicators are turning upwards while the price continued to decline, indicating a trend reversal.
🔹 The price has not fallen below 71.50, where bulls have established strong support.
Fundamental Catalyst:
📢 Recent news about tariff increases, including on goods from Canada (such as oil), could be a bullish driver for oil prices.
Key Targets:
✅ First target: 77.36
✅ Local high: 81.00
✅ Major resistance level: 84.00
#CrudeOil #WTI #Brent #Trading #ElliottWaves #TechnicalAnalysis #Forex #Commodities #PriceAction #MarketUpdate #OilPrices
Oil Price Outlook: Potential Fifth Wave Impulse Up
There is a high probability that oil prices, having broken through the upper boundary of the regression channel, may continue their upward movement with a target in the 81.20–84.00 range. This could be the fifth wave of an upward impulse.
Wave Structure Analysis:
✅ Wave 1 – Leading diagonal
✅ Wave 2 – Double zigzag
✅ Wave 3 – Strong upward movement
✅ Wave 4 – Deep correction as a single zigzag, reaching the maximum possible level of 71.50
‼️ Further decline invalidates this scenario.
Technical Confirmation:
🔹 Bullish divergence is clearly visible on both the H1 and H4 charts.
🔹 AO and RSI indicators are turning upwards while the price continued to decline, indicating a trend reversal.
🔹 The price has not fallen below 71.50, where bulls have established strong support.
Fundamental Catalyst:
📢 Recent news about tariff increases, including on goods from Canada (such as oil), could be a bullish driver for oil prices.
Key Targets:
✅ First target: 77.36
✅ Local high: 81.00
✅ Major resistance level: 84.00
#CrudeOil #WTI #Brent #Trading #ElliottWaves #TechnicalAnalysis #Forex #Commodities #PriceAction #MarketUpdate #OilPrices
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פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.