WTI Crude Oil Analysis – Is a Major Wave 3 About to Begin?
🛢 WTI Crude Oil Analysis – Is a Major Wave 3 About to Begin? 🚀
According to Elliott Wave count, it appears that the corrective Wave 2 has either completed or is in its final stages. The (ABC) corrective structure, combined with reactions to key Fibonacci levels, suggests a potential end to the correction and the start of a powerful Wave 3.
Key Fibonacci Support Levels:
📍 $60.39 – 50% retracement
📍 $58.84 – 78.6% retracement
As long as price holds above these levels, the bullish structure remains intact, with the ultimate target for Wave 3 projected well above the previous all-time highs.
💬 What’s your view? Is crude oil ready for a historic move, or is there still room for more correction?
✅ Save this idea & follow for future updates.
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🚀 Who am I?
I'm Mahdi, a prop firm trader with 7+ years of experience in technical analysis, mainly focusing on Smart Money Concepts and Elliott Wave theory.
I specialize in delivering high-quality trading signals, market insights, and educational content tailored for serious traders and investors.
📊 My Tools: SMC, Elliott Wave, Fibonacci, Liquidity Grabs, Order Blocks
💼 Prop Challenge Passed: Yes | Funded Account: In Progress
🔗 Follow for consistent updates and trading insights.
According to Elliott Wave count, it appears that the corrective Wave 2 has either completed or is in its final stages. The (ABC) corrective structure, combined with reactions to key Fibonacci levels, suggests a potential end to the correction and the start of a powerful Wave 3.
Key Fibonacci Support Levels:
📍 $60.39 – 50% retracement
📍 $58.84 – 78.6% retracement
As long as price holds above these levels, the bullish structure remains intact, with the ultimate target for Wave 3 projected well above the previous all-time highs.
💬 What’s your view? Is crude oil ready for a historic move, or is there still room for more correction?
✅ Save this idea & follow for future updates.
-------------------------------------------------------------------------------------------------------------------
🚀 Who am I?
I'm Mahdi, a prop firm trader with 7+ years of experience in technical analysis, mainly focusing on Smart Money Concepts and Elliott Wave theory.
I specialize in delivering high-quality trading signals, market insights, and educational content tailored for serious traders and investors.
📊 My Tools: SMC, Elliott Wave, Fibonacci, Liquidity Grabs, Order Blocks
💼 Prop Challenge Passed: Yes | Funded Account: In Progress
🔗 Follow for consistent updates and trading insights.
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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.