This analysis is purely a personal analysis
Reaching the desired price range, we will review it once again
Hints
1. This analysis is checked in the weekly time frame, so each of the waves has the necessary time to form between a few weeks to several months, and a total of one to two years.
2. For convenience, it refuses to go into details so that the trader can easily understand it.
3. The study was performed in the form of Elliott and canalization using Macd indicator
Analysis Description: Oil is on a long-term upward trajectory annually, so after the proper growth of oil prices and the failure of the downtrend, higher goals are pursued, but what is clear is that each impulse step needs a active step to rest.
So it can be said that in the next few weeks to a few months, the oil route is expected to be relatively upward to reach its $ 114 target to complete a complete cycle.
And then it enters a correction cycle that can take up to two years, so expecting to see $ 35- $ 45 as a midline target is not unexpected.
Note:
Proper insight into considering all possible scenarios then
1. Short-term visions Long-term to medium-term are well defined
We have a temporary uptrend and targets of $ 114 and $ 105 for it
Then for several months the rest of the movement shifted and, the price suffered
And then move to the channel midline for several months
At the end of this analysis is only a personal analysis and there is no certainty in doing or not doing it ......
Reaching the desired price range, we will review it once again
Hints
1. This analysis is checked in the weekly time frame, so each of the waves has the necessary time to form between a few weeks to several months, and a total of one to two years.
2. For convenience, it refuses to go into details so that the trader can easily understand it.
3. The study was performed in the form of Elliott and canalization using Macd indicator
Analysis Description: Oil is on a long-term upward trajectory annually, so after the proper growth of oil prices and the failure of the downtrend, higher goals are pursued, but what is clear is that each impulse step needs a active step to rest.
So it can be said that in the next few weeks to a few months, the oil route is expected to be relatively upward to reach its $ 114 target to complete a complete cycle.
And then it enters a correction cycle that can take up to two years, so expecting to see $ 35- $ 45 as a midline target is not unexpected.
Note:
Proper insight into considering all possible scenarios then
1. Short-term visions Long-term to medium-term are well defined
We have a temporary uptrend and targets of $ 114 and $ 105 for it
Then for several months the rest of the movement shifted and, the price suffered
And then move to the channel midline for several months
At the end of this analysis is only a personal analysis and there is no certainty in doing or not doing it ......