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14.11.202308:25 Forex Analysis & Reviews: Elliott wave analysis of Crude Oil for November 14, 2023

Exchange Rates 14.11.2023 analysis

Crude oil shows evidence of having completed the zig-zag correction from 95.03 with a test of 74.91. The instrument should now proceed higher to test solid resistance near 81.50. After a temporary consolidation near this resistance, we should see crude oil continue higher towards the long-term target seen at 129.30.

Short-term support is seen near 77.45, which ideally will be able to act as a floor for the next push higher towards 81.50 and ultimately, above here too.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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