empty
 
 
fr
Assistance
Ouverture rapide de compte
Plateforme de trading
Déposer / Retirer

01.11.202307:12 Forex Analysis & Reviews: Elliott wave analysis of Crude Oil for November 1, 2023

Exchange Rates 01.11.2023 analysis

Crude oil continues to follow the expected path lower. Yesterday, the instrument broke below the former low of wave A at 81.50. This confirms that more downside pressure should be expected in the coming days as crude oil aims for a test of support in the 75.63 - 79.34 area.

Short-term we see resistance at 83.53 which ideally will cap the upside for more downside pressure towards 79.34.

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

Torben Melsted,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Can't speak right now?
Ask your question in the chat.