This is my Analysis of the Oil price. I am expecting that we are in ABC structure to the downside currently therefore short-term bearish. However should we hold the price level area around 45-40 this ABC could finish there in a bigger wave 2. So in long-term we should carefully observe the price area 45-40 for a potential long entry (longer-term).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.