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09.11.202308:13 Forex Analysis & Reviews: Elliott wave analysis of Crude Oil for November 09, 2023

Exchange Rates 09.11.2023 analysis

We have seen a firm test of the 61.8% corrective target at 75.63 and we will now be looking for signs of a bottom being formed. Short-term a break above minor resistance at 77.53 will be the first strong indication that the zig-zag correction from 95.03 has completed and a new impulsive rally is unfolding, while a break above resistance at 80.10 will confirm that wave 3 is unfolding towards 129.30.

The zig-zag correction should be close to completion and a bottom should start to build around support at 75.63.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Torben Melsted,
Analytical expert of InstaSpot
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