The exchange rate can now build the structure of the second fractal wave. In this fractal structure I look forward to building a wave structure. Later, I expect an upward outbreak. The target of the current motion is 69 usd.
WTICOUSD 3.29% decrease followed by 18% increase. The rate correction level is 60.1 usd. I'm waiting for this level to test back and then rise. I expect a rise in a double wave structure with a first resistance level of 66 usd. The current motion target price is 70.8 usd.
Reasons to be short on OIL
1) Weekly Shooting Star
2) Daily Shooting star
3) 2016 trend line acting as a resistance
4) Weighted average CAD made numerous attempts to break ALL TIME trend line as failed...
The exchange rate returned the ATR axis. I look forward to falling motion from this axis. The end of the falling wave structure may be around 58.45 usd.
The goal of the current exchange rate rise is 66.2 usd. Unlike the previous analysis, I put it slightly higher. Accordingly, I expect a reduction in correction motion of 58.7 usd. This is a nearly 11% decrease. If the predetermined movement occurs, then there is a high chance of a further rising wave system. The target price is 80USD. An additional increase of...
The exchange rate is in the second wave of a double fractal. If it continues, the price of the ascent is 65.57usd. Then I expect a steep decline. This decrease can reach 15%.
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