Hellena | Oil (4H): Long to resistance area of 79.37.

Dear colleagues, I assume that the price has started another five-wave structure. At the moment I suppose that the price may test the area of 50% Fibonacci level of 76.73, then I expect the price to come to the resistance area of 79.37.
But maybe wave 2 will not happen and we will see an extension of wave 1.

Manage your capital correctly and competently! Only enter trades based on reliable patterns!

Comment:

Dear colleagues, the price has tested the area of 50% Fibonacci level of 76.73. Now the price is in an upward movement. I expect that in the coming week the price will reach the target of 79.37. This movement is wave 3, the end of which will have to be calculated after reaching the target.

Comment:

The price is in an upward movement and there is not much left to the target. But a small correction to the area of 77.70 is still possible. In any case, I recommend to set trades to breakeven.

Comment:

The price made a deeper correction and tested again the area of 50% Fibonacci level of 76.73. I suppose that this is a chance to enter a long trade in full, if by any reason.

Comment:

The price has passed halfway to the movement target and is at 77.94. The situation on the markets is changing a lot and I would advise to close some positions or set trades to breakeven.