Let’s return to 
USOIL
In the previous idea, we described the upward move:
Let’s continue the discussion and reassess the structure.
First, a global look at the chart. From April 2020 to March 2022, a clear five-wave advance can be identified.
The correction since March 2022 is fairly complex and can be mapped as follows:
The entire structure can be considered a larger Wave A.
What wave count do you see?
One of the most common corrective structures forUSOIL is an expanded flat. In this pattern, Wave A is often roughly equal to Wave B. Based on this assumption, the main target for the current structure lies around the 130 level (slightly higher or lower). The price could reach this level in two impulsive moves, one of which is now nearly complete.
Current impulse
The first wave can be viewed as a diagonal, while the third wave appears extended. This structure is fairly common in commodities and inUSOIL .
According to the proposed wave count, Waves 4 and 5 are still missing to complete the move.
Before the final advance, a correction of up to ~15% from current levels toward the 76-80 area is possible as part of Wave 4.
The current structure does not look like the beginning of a new trend.
It is more likely part of Wave B, meaning the move could remain complex and not always predictable.
In any case, let’s outline the initial targets for the completion of the current impulse.
Key targets:
Global target:
around 130
Potential move from current levels: ~6-14%
---
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Disagree? Share your targets in the comments.
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USOILIn the previous idea, we described the upward move:
Let’s continue the discussion and reassess the structure.
First, a global look at the chart. From April 2020 to March 2022, a clear five-wave advance can be identified.
The correction since March 2022 is fairly complex and can be mapped as follows:
The entire structure can be considered a larger Wave A.
What wave count do you see?
One of the most common corrective structures for
USOIL is an expanded flat. In this pattern, Wave A is often roughly equal to Wave B. Based on this assumption, the main target for the current structure lies around the 130 level (slightly higher or lower). The price could reach this level in two impulsive moves, one of which is now nearly complete.Current impulse
The first wave can be viewed as a diagonal, while the third wave appears extended. This structure is fairly common in commodities and in
USOIL .According to the proposed wave count, Waves 4 and 5 are still missing to complete the move.
Before the final advance, a correction of up to ~15% from current levels toward the 76-80 area is possible as part of Wave 4.
The current structure does not look like the beginning of a new trend.
It is more likely part of Wave B, meaning the move could remain complex and not always predictable.
In any case, let’s outline the initial targets for the completion of the current impulse.
Key targets:
- 97
- 104
Global target:
around 130
Potential move from current levels: ~6-14%
---
Liked the idea? Hit Boost 🚀
Disagree? Share your targets in the comments.
---
Nota
Price hit 111, which is typical for commodities, showing extended third and fifth waves.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.