There is a high probability that a long-term corrective trend has ended for USOIL. This trend took the form of a primary triple zigzag consisting of sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.
In the last section of the chart, we can see a market reversal and the beginning of a new bullish trend. Perhaps there is a construction of the primary impulse wave ①-②-③-④-⑤.
The end of the third sub-wave ③ will likely reach the price level of 87.07. This is where the intermediate sub-wave (5), which is currently being built, will be at 61.8% of impulse (3).
Alternatively, a continuation of the bearish trend is possible. Only the second intervening wave Ⓧ could be completed, it has the form of a double three (W)-(X)-(Y).
The scenario will be confirmed if the bears take the initiative and lead the market down, building a final wave Ⓩ.
The first goal, as far as the bears can reach, is a minimum of 64.20. At that level the actionary intermediate wave (Y) was completed.
Test your strategy on how the USOIL will fare with Orbex
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Minting the Future w Adryenn Ashley. Access Here.
- Source: https://www.orbex.com/blog/en/2023/04/usoil-triple-zigzag-or-double-three
- :has
- :is
- a
- and
- AS
- At
- BE
- bearish
- Bears
- Beginning
- being
- Building
- built
- Bullish
- CAN
- Chart
- Completed
- CONFIRMED
- Consisting
- construction
- continuation
- could
- Currently
- double
- down
- Ether (ETH)
- final
- First
- For
- form
- goal
- High
- How
- HTTPS
- image
- Initiative
- Intermediate
- intervening
- IT
- Last
- lead
- Level
- likely
- live
- long-term
- Market
- max-width
- minimum
- New
- of
- on
- perhaps
- plato
- Plato Data Intelligence
- PlatoData
- possible
- price
- primary
- probability
- reach
- Reversal
- scenario
- Second
- Section
- Strategy
- Take
- that
- The
- The Initiative
- Third
- three
- Trend
- Triple
- URL
- W
- Wave
- which
- will
- with
- X
- Your
- zephyrnet