FX:USOILSPOT   WTI Light Sweet Crude Oil Future SPOT
As shown in the chart ,

USOIL was around at $81 on 5th Dec 2022
We can see in the chart, USOIL unfolds the 4th wave as a triangle or complex correction.
1st and 3rd waves equal 100%

2nd wave is simple and shallow . If the 4th wave also is shallow at 38.2%(3rd wave) then 80.90 is a key level support for Big move.

As per the Elliott rules one of the three waves is extended and here 1st and 3rd wave is normal so there is a high probability for 5th wave to be extended and the first target is $90

Buy Levels as shown in chart 80, 80.900 for the Target of $90
Stop loss is 1st wave top @ 79.500 or 77

#USOIL #crudeoil

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