Brent Crude Oil: wave analysis
The price may grow.
On the daily chart, a downward correction of the higher level developed as the wave B, and the formation of the upward wave C started, within which the first wave 1 of (1) of C develops. Now, the third wave of the lower level iii of 1 is forming, within which the wave (ii) of iii has ended. If the assumption is correct, the price will grow to the levels of 59.92–71.40. In this scenario, critical stop loss level is 46.60.
