WTI Crude Wave Structure & Potential Scenario
We currently are at the bottom of the structure. With little to no room left to head south price could
A) Potentially break further lower into 10's & 15's.
B) Start a consolidation and range between 25's & 50's.
Before resuming the trend intact within the structure. In the long term personally I believe Crude Oil might very well stay below and trade under 20's & 30's range for years to come due to Geopolitical factors and due to the long awaited to switch towards mainstream Electrical cars adaptation and renewable energy projects in development globally but until it happens
Price can continue to be manipulated to trade much higher as well.
A) Potentially break further lower into 10's & 15's.
B) Start a consolidation and range between 25's & 50's.
Before resuming the trend intact within the structure. In the long term personally I believe Crude Oil might very well stay below and trade under 20's & 30's range for years to come due to Geopolitical factors and due to the long awaited to switch towards mainstream Electrical cars adaptation and renewable energy projects in development globally but until it happens
Price can continue to be manipulated to trade much higher as well.