Crude Oil: 1 Apr, 2024
Master of Elliott Wave Analysis: Shane Hua (CEWA-M)
This outlook analysis indicates a continuation of upward momentum in Crude Oil futures. However, there is a limitation on the upside potential due to the fifth wave. Nonetheless, the overall trend remains bullish, so as long as the price stays above $82.29, this trend is strongly supported, targeting $84.31 - $85.16.
Invalidation point: $80.30
This outlook analysis indicates a continuation of upward momentum in Crude Oil futures. However, there is a limitation on the upside potential due to the fifth wave. Nonetheless, the overall trend remains bullish, so as long as the price stays above $82.29, this trend is strongly supported, targeting $84.31 - $85.16.
Invalidation point: $80.30
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