Oil Brent
W1 - The formation of a 3-wave structure continues
D1 - The price has reached 161 lvl. 3rd wave, which may mean further movement down to level 200 - 261
H4 - The price is in the correctional 4th wave, you can see the formation of an ascending channel. If the lower trend line is broken or fixed behind it, further sales to the levels of 75.4 can be considered
You can also consider entering from the formation of a double top and further movement to the lower boundary and beyond.
What to expect now?
Expectation of breaking through the level of 82.20 and fixing the lower border from the level of 81.15.
When opening a position, it is best to exit the position from the level of 83.60; if this scenario does not materialize and the price may return to the local range, wait for the lower border of the channel to be broken.
Short
Targets 80.00 - 79.16 - 78.43 - 76.87 - 75.41
W1 - The formation of a 3-wave structure continues
D1 - The price has reached 161 lvl. 3rd wave, which may mean further movement down to level 200 - 261
H4 - The price is in the correctional 4th wave, you can see the formation of an ascending channel. If the lower trend line is broken or fixed behind it, further sales to the levels of 75.4 can be considered
You can also consider entering from the formation of a double top and further movement to the lower boundary and beyond.
What to expect now?
Expectation of breaking through the level of 82.20 and fixing the lower border from the level of 81.15.
When opening a position, it is best to exit the position from the level of 83.60; if this scenario does not materialize and the price may return to the local range, wait for the lower border of the channel to be broken.
Short
Targets 80.00 - 79.16 - 78.43 - 76.87 - 75.41