WTI Bullish Outlook
Updated
Since March 2020, crude oil prices have been on the rise with simple Fibonacci 38.2% pull backs along the way ... BUT nothing appears to be able to stop what's coming next.
Per barrel is currently hovering around $90 but the gas pumps and tempers will exceed the charts as we move into mid-2024 on the heels of the 2024 election.
Also included the Elliott waves 1 thru 5 showing the 38.2% retraces with the mid wave showing a perfect 61.8% retrace of it's prior price action. There's no guarantee that the 1.618% extension will occur so the 1.414% at the $180 price point appears to be more probable.
NFA DYOR ... comments welcome.
Per barrel is currently hovering around $90 but the gas pumps and tempers will exceed the charts as we move into mid-2024 on the heels of the 2024 election.
Also included the Elliott waves 1 thru 5 showing the 38.2% retraces with the mid wave showing a perfect 61.8% retrace of it's prior price action. There's no guarantee that the 1.618% extension will occur so the 1.414% at the $180 price point appears to be more probable.
NFA DYOR ... comments welcome.
Note
Hurricane Tracker: Def Con Level 1 (Highest: 10)
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