empty
30.10.2023 07:04 AM
Elliott wave analysis of Crude Oil for October 30, 2023

This image is no longer relevant

Crude is currently consolidating in a narrow range between 82.08 and 83.10. Once this consolidation is complete, we should see Crude Oil continue lower in wave C towards support in the 75.63 - 79.34 area, from where a new impulsive rally should be expected. With the next impulsive rally, the instrument should reach at least 129.34 and ultimately, we should see crude oil break above the 2008 peak at 147.27. However, for now, our focus should be on the downside for the completion of wave C in the 75.63 - 79.34 area before turning higher again.

Summary
Urgency
Analytic
Torben Melsted
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD Analysis on September 1, 2025

The wave pattern on the 4-hour chart for EUR/USD has remained unchanged for several months, which is very encouraging. Even when corrective waves are formed, the overall structure remains intact

Chin Zhao 19:55 2025-09-01 UTC+2

GBP/USD Analysis on September 1, 2025

The wave structure for GBP/USD continues to indicate the formation of an upward impulse wave pattern. The wave picture is almost identical to EUR/USD, since the only real driver here

Chin Zhao 19:51 2025-09-01 UTC+2

Euro Currency. Week Preview

A new week begins, and I'll be quite disappointed if the sideways movement continues. Despite the clear interpretation of the current wave pattern, it could become more complicated—especially

Chin Zhao 00:46 2025-09-01 UTC+2

EUR/USD Analysis on August 29, 2025

The wave pattern on the 4-hour chart for EUR/USD has remained unchanged for several months, which is very encouraging. Even when corrective waves are forming, the structure's integrity is maintained

Chin Zhao 18:26 2025-08-29 UTC+2

GBP/USD Analysis on August 29, 2025

For GBP/USD, the wave pattern continues to indicate the construction of an upward impulse structure. The wave picture is almost identical to that of EUR/USD, since the only "culprit" remains

Chin Zhao 17:50 2025-08-29 UTC+2

EUR/USD Analysis on August 28, 2025

The wave structure on the 4-hour chart for EUR/USD has remained unchanged for several months, which is very encouraging. Even during the formation of corrective waves, the integrity

Chin Zhao 18:21 2025-08-28 UTC+2

GBP/USD Analysis on August 28, 2025

For GBP/USD, the wave structure continues to indicate the formation of a bullish impulse wave sequence. The wave pattern is almost identical to EUR/USD, as the only real "culprit" remains

Chin Zhao 18:02 2025-08-28 UTC+2

EUR/USD Analysis on August 27, 2025

The wave pattern on the 4-hour chart for EUR/USD has remained unchanged for several months now, which is encouraging. Even when corrective waves are forming, the integrity of the structure

Chin Zhao 19:04 2025-08-27 UTC+2

GBP/USD Analysis on August 27, 2025

For GBP/USD, the wave structure continues to indicate the formation of a bullish impulsive sequence. The wave pattern is almost identical to EUR/USD, as the only "driving force" remains

Chin Zhao 18:51 2025-08-27 UTC+2

EUR/USD Analysis on August 26, 2025

The wave pattern on the 4-hour chart for EUR/USD has not changed for several months, which is encouraging. Even when corrective waves are built, the overall structure remains intact. This

Chin Zhao 19:32 2025-08-26 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.