swaaapnil

Saudi Aramco Short Term View

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TADAWUL_DLY:2222   SAUDI ARABIAN OIL CO.
2222

  • SAUDI ARAMCO breaks out of parallel channel after completing wave 3 extension.

  • Now I think it's in wave 4 the ideal correction measure for wave 4 is 38.2% of wave 3. maximum is 50% of wave 3. In this case it's possible that stock will correct to near 50%.

  • Now why 50% I'm saying is because there is strong support created on 14 jul 2022 at near 31.20 which will act as support.

See my next analysis for LONG TERM view.
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