The trading week for the price of Brent crude oil turned out to be very unpredictable, starting from September 25, the movement on the chart began to develop in the lateral direction and at the same time its amplitude was constantly increasing. These signs are characteristic of only one correctional model – a diverging triangle. It is almost impossible to predict it in advance, so it was discovered after complete formation. Therefore, the second wave-bundle (x) of [y] is completed and now the final zigzag (z) of [y] is developing.
Thus, at the opening of the commodity market, I expect continued formation of wave ‘b’ of (z) with a slight pullback, after which the price will go down within the last wave ‘c’ of (z), which should take the form of a 5-wave structure.
The goal of the decline is to close the gap. Next, the last wave of the initial diagonal will begin to form, the completion of which will take place in the range of $ 70-72 per barrel.
I look forward to the beginning of next week to receive confirmation of my forecast. If you liked this article and you want to be one of the first to receive important information about the situation in the financial markets, then you should subscribe to the newsletter of the site or my Telegram channel. I will also be grateful for your gratitude in the form of a word or money equivalent.
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