meszaros

WTICOUSD correction approaching.

OANDA:WTICOUSD   West Texas Oil
WTICOUSD correction approaching. Continuing my analysis, it can be seen that WTI oil is nearing the end of its third rising wave cycle. In my analysis, I assume that the motion may turn south from the 45-46usd range and the D1ATR will drop to a level of 50.6 to 42.6 usd. Consequently, a profit realization can begin at these levels. I would not start a long position from this level. Of course, the long-term picture may continue to rise, with a target price above US $ 50. While waiting for the correction to another long position, I am thinking of 42-43 usd levels.
Comment: In my analysis, I hypothesize that the motion may turn south from the 45-46usd range and decrease to 42.6 usd up to the D1ATR50% level.
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