Brent Oil Reversal Confirmed: Elliott Wave Analysis Signals Deeper Correction

A 5th wave completed last week and a deep decline yesterday indicates the larger correction we anticipated for March — a target of $77.5 ± $5 — is now underway. Expect increased volatility and downside pressure toward the $72.5–$82.5 band, prompting more risk-off positioning in the near term.

Analysis

A 5th wave completed last week and a deep decline yesterday indicates the larger correction we anticipated for March — a target of $77.5 ± $5 — is now underway. Expect increased volatility and downside pressure toward the $72.5–$82.5 band, prompting more risk-off positioning in the near term.