Brent Crude Oil: wave analysis
The price may rise.
On the daily chart, the development of a downward correction of the higher level as wave B was completed and the formation of the ascending wave C began, as part of which the first wave 1 of (1) of C is developing. At the moment, the third wave of the lower level iii of 1 is forming, within which wave (iii) of iii is developing. If the assumption is correct, one may expect the growth of the price of the asset to 65.00–70.00. The level of 57.20 is critical and stop-loss for this scenario.
