Oil has broken through extremely strong resistance. However, the area is contaminated with strong resistance levels every $2-3 USD per bbl, making the levels technique less effective. In my charts I chose to delete the levels.
Three options are on the table.
1. Bold scenario assuming a shallow retracement in wave B (zigzag, double zigzag, flat, triangle, or combination) followed by an explosive rally to the $100 level (blue labels and lines).
2. The base one is black. The price is about to complete wave c of (w), which will be followed by a complex, long correction in wave (x) (zigzag, double zigzag, flat, triangle, or combination).
3. Green labels indicate a scenario in which the current development is only wave [3], followed by a sharp decline in wave [4], which should enter the wave [1] territory. Given the growing disproportionality, the likelihood of such a scenario is decreasing with each passing day.
Trading Strategy: Hold long positions until the 80 level. Do not add positions. Exit on signs of trend exhaustion (follow intraday updates on social media).
If you're not in position, wait for wave B to form (shallow zigzag, triangle, or flat). If the decline is more pronounced, we will most likely be in the green scenario. If so stay tuned for bottom picking ideas.
Nothing here is advice.
Three options are on the table.
1. Bold scenario assuming a shallow retracement in wave B (zigzag, double zigzag, flat, triangle, or combination) followed by an explosive rally to the $100 level (blue labels and lines).
2. The base one is black. The price is about to complete wave c of (w), which will be followed by a complex, long correction in wave (x) (zigzag, double zigzag, flat, triangle, or combination).
3. Green labels indicate a scenario in which the current development is only wave [3], followed by a sharp decline in wave [4], which should enter the wave [1] territory. Given the growing disproportionality, the likelihood of such a scenario is decreasing with each passing day.
Trading Strategy: Hold long positions until the 80 level. Do not add positions. Exit on signs of trend exhaustion (follow intraday updates on social media).
If you're not in position, wait for wave B to form (shallow zigzag, triangle, or flat). If the decline is more pronounced, we will most likely be in the green scenario. If so stay tuned for bottom picking ideas.
Nothing here is advice.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。