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10.02.2022: Forex Analysis & Reviews: Elliott wave analysis of Crude Oil for February 10, 2022

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Crude is close to completing wave B and pushes lower in wave C of an expanded flat correction. This wave C should ideally push crude oil below 62.43 towards the ideal target at 59.70 to complete wave 2 and set the stage for the next impulsive rally higher.

To confirm the completion of wave B we need a break below support at 86.34 and more importantly, a break below support at 81.90 that will confirm that wave C is in motion.

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

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