USOIL Crude oil possible Elliott wave counts on hourly chart

24. Juni 2023

Hello Friends,

Here we had shared possible Elliott wave counts on hourly chart of USOIL CRUDE OIL, in which we can clearly see that after low of May 2023 Oil has done wave (1) & (2) of some degree and now we are unfolding wave (3) of same degree, Inside (3) also we had finished wave 1 & 2, and now possibly we had started wave 3 of (3) which may go $ 73 as an equality or $ 76 as an 161.8% of wave 1 of (3), and in wave 3 also we had started wave i and still wave ii is pending, so buy on dips funda will be worth full in this case with invalidation level of $66.77, so if price goes below $ 66.77 then our currently shared view will be invalidated, because wave 2 will never retrace more than 100% of wave 1.

Some referral snapshots are shared below, please go throughout, My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.

Overall wave structure looks bullish as of now


Price making lower low while indicator making higher low on completion of wave C of wave 2 of wave (3)



I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.

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Hope this post is helpful to community
Thanks
RK💕

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