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Oil: Elliottwave structure suggests more upside to 43.6 - 45.2

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Mar 22, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Short term Elliottwave structure suggests dips to 35.98 on March 15 ended second wave (X). Rally from there is unfolding in a zigzag structure where wave (A) ended at 41.2, wave (B) ended at 38.62, and wave (C) is in progress higher as 5 waves. While pullbacks stay above 38.62, Oil is expected to continue higher in wave (C) towards 43.46 – 45.24 area before a 3 waves pullback to at least correct the rally from March 15 low.

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