#OIL Elliot wave analysis
After the bearish move that oil prices experienced until the fifth of August, it seems like the price has initiated another bullish move, which currently appears to be an impulsive wave.
However, it should be noted that even if this bullish move is an ABC corrective wave, it makes no difference since the price could still go higher to complete wave C.
Therefore, this bullish move seems probable for now, and we could look for buying opportunities near support levels.
However, it should be noted that even if this bullish move is an ABC corrective wave, it makes no difference since the price could still go higher to complete wave C.
Therefore, this bullish move seems probable for now, and we could look for buying opportunities near support levels.
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