On the daily chart, a downward correction of the higher level developed as the wave (B), within which the wave C of (B) formed. Now, the upward wave (C) has started, within which the entry first wave of the lower level (i) of i of 1 of (C) is forming.
On the daily chart, the first wave of the higher level (1) formed, and a downward correction ended as the second wave (2). Now, the development of the upward third wave (3) has started, within which the first entry wave of the lower level (i) of i of 1 of (3) is developing.
On the daily chart, the first wave of the higher level (1) of 5 forms, within which the wave 3 of (1) develops. Now, the third wave of the lower level iii of 3 is developing, within which the wave (iii) of iii is forming.
On the daily chart, the third wave of the higher level 3 of (3) develops, within which the wave iii of 3 formed. Now, a correction has ended as the fourth wave iv of 3, within which the wave (c) of iv has developed, and the development of the fifth wave v of 3 is starting.
On the daily chart, the third wave of the higher level (3) ended, and a downward correction forms as the fourth wave (4), within which the wave A of (4) develops. Now, the third wave iii of A is developing, within which the wave of the lower level (iii) of iii is forming.
On the daily chart, the first wave of the higher level (1) of C developed, and a downward correction forms as the wave (2) of C, within which the wave C of (2) forms. Now, the third wave of the lower level iii of C has formed, and a local correction has ended as the fourth wave iv of C.
On the daily chart, the third wave of the higher level (3) formed, and a downward correction ended as the fourth wave (4). Now, the fifth wave (5) is developing, within which the first entry wave of the lower level 1 of (5) is forming.
On the daily chart, the upward first wave of the higher level 1 formed, a downward correction developed as the wave 2, and the formation of third wave 3 started. Now, the first wave of the lower level 1 of (1) of 3 is developing, within which the wave iii of 1 has formed, and the correctional wave iv of 1 has ended.
On the daily chart, the first wave of the higher level (1) develops, within which the wave 3 of (1) forms. Now, the third wave of the lower level iii of 3 has ended, and a downward correction is forming as the fourth wave iv of 3, within which the wave (a) of iv has formed.
On the daily chart, a downward correction developed as the fourth wave of the higher level (4), within which the wave C of (4) formed as a momentum. Now, the fifth wave (5) is starting, within which the first entry wave of the lower level i of 1 of (5) is developing.
On the daily chart, a downward correction of the higher level developed as the wave (B), within which the wave C of (B) formed, and the upward wave (C) started. Now, the entry first wave of the lower level (i) of i of 1 of (C) is forming, within which the wave iii of (i) is forming.
Cartel Secretary General Haitham al-Ghais said that the increase in production in September by 100 K barrels per day is not a mechanism for influencing oil quotations but acts as a check to ensure a complete balance of supply and demand. According to members of the organization, it is not the oil price that causes much greater concern but the low financing of the oil sector in the world, which this year has decreased from 600 B dollars to 450 B dollars. Thus, according to the results of the meeting, Russia and Saudi Arabia will increase production by 26.0K barrels per day, and the remaining 48.0K will fall on other members of OPEC+.
Demand for contracts by investors continues to decline gradually, reaching its lowest levels since 2016. According to the US Commodity Futures Trading Commission (CFTC), net speculative positions amounted to only 253.8K compared to 259.3K a week earlier.
On the global chart of the asset, the price is moving within the local downward channel, heading towards the support line. Technical indicators keep a clear sell signal and completely exclude a reversal: fast EMAs of the Alligator indicator move away from the signal line, and the AO oscillator histogram forms bars with a downward trend in the sell zone.
Resistance levels: 96.48, 105.23 | Support levels: 92.48, 85.60
XAGUSD - Growth is possible.
On the daily chart, a downward correction of the higher level formed as the second wave (2), within which the wave C of (2) formed. Now, the third wave (3) has formed, within which the first entry wave of the lower level (i) of i of 1 of (3) is developing.
If the assumption is correct, the XAGUSD pair will grow to the levels of 22.47–25.4. In this scenario, critical stop loss level is 18.27.
On the daily chart, a downward correction of the higher level ended as the second wave (2), within which the wave C of (2) formed, and the third wave (3) started. Now, the first entry wave of the lower level i of 1 of (3) is forming, within which the wave (i) of I is developing.
If the assumption is correct, the XAGUSD pair will grow to the area of 22.47 – 25.4. In this scenario, critical stop loss level is 19.5.
On the daily chart, the first wave of the higher level 1 of (1) of C ended, and a downward correction develops as the second wave 2 of (1) of C, within which the wave a of 2 forms. Now, the third wave of the lower level (iii) of a is developing, within which the wave v of (iii) is forming.
If the assumption is correct, the price of the asset will fall to the area of 82.3 – 67. In this scenario, critical stop loss level is 103.55.
On the daily chart, the wave А of the higher level formed, a downward correction ended as the wave B, and the wave C started. Now, the first entry wave of the lower level 1 of (1) of C has formed, a local correction has formed as the wave 2 of (1) of C, and the third wave 3 of (1) of C is developing.
If the assumption is correct, the asset will grow to the area of 326.97 – 397. In this scenario, critical stop loss level is 209.78.
On the daily chart, the wave А of the higher level ended, and a downward correction is developing as the wave B, within which the wave (А) of B has formed. Now, the upward correctional wave of the lower level (B) of B has started, within which the wave A of (B) is developing.
On the daily chart, the first wave of the higher level (1) formed, a downward correction ended as the second wave (2), and the third upward the wave (3) started. Now, the first entry wave of the lower level (i) of i of 1 of (3) has started, and a local correction is developing as the second wave (ii) of i.
On the daily chart, a downward correction of the higher level as the wave (B), within which the wave C of (B) forms. Now, the third wave of the lower level iii of C has formed, and a local correction is ending as the fourth wave iv of C, within which the wave (c) of iv has formed.
On the weekly chart the correctional downward wave of the higher level 4 develops, within which the wave (C) of 4 forms. Now, the first wave of the lower level 1 of (C) has formed, a local correction has ended as the second wave 2 of (C), and the third wave 3 of (C) is forming, within which the wave i of 3 is developing.
