USOIL Long-Term
COVID marked the supercycle's low in oil. Since then, the price has rallied to form a [W] double zigzag consisting of (A)(B)(C).
Since February 2022, the price has been falling in a very choppy manner. Recent developments suggest that the price is forming an expanding diagonal.
When completed, I believe the price will drop to 660/BBL in 2025.
The alternative is that wave [X] has ended (in blue), and the price will gradually reach an all-time high (blue C).
Clarity is likely to emerge in late 2024. If the price breaks below the [iv] wave, the odds favour 60/bbl.
If the decline from [v] occurs in a corrective fashion, we will consider changing the base case for the multi-year bullish scenario.
Since February 2022, the price has been falling in a very choppy manner. Recent developments suggest that the price is forming an expanding diagonal.
When completed, I believe the price will drop to 660/BBL in 2025.
The alternative is that wave [X] has ended (in blue), and the price will gradually reach an all-time high (blue C).
Clarity is likely to emerge in late 2024. If the price breaks below the [iv] wave, the odds favour 60/bbl.
If the decline from [v] occurs in a corrective fashion, we will consider changing the base case for the multi-year bullish scenario.
🗨️ t.me/EnergeiaCharta
🌏 energeiacharta.com
⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
🗃️ Extensive analysis archives
📏 Chartopedia, with examples of applying ElliottWave to real world charts
🌏 energeiacharta.com
⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
🗃️ Extensive analysis archives
📏 Chartopedia, with examples of applying ElliottWave to real world charts
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.