The WTI futures price at New York Commodities Exchange (NYMEX) created Wave 5/A(c) within its range on 3 November 10, having previously reached retracement target levels for Wave 4 at 38.2% ($79.91).
Experts of the Faculty for Studying the Masterforex-V Trading System emphasize that the medium-term bullish trend remains intact. However, there are no conditions for secure medium-term buying of the futures so far as the current wave is short and a pullback is necessary. A protective bullish pivot at $79.74 should be broken and a Fractal-Zigzag Reversal (FZR) should emerge to change the trend.
Resistance levels
84.69 = 88% Amn86-87 = volume levels Support levels Wave А(С) - not finished
83.82 = volume levels
80.54 = MF3.2 bullish pivot
79.74 = MF3 bullish pivot
Key news
18:15 GMT, US, Interest Rates
18:15 GMT, US, FOMC Statement
4 November 10
12:30 GMT, US, Jobless Claims and Non Farm Productivity
5 November 1012:30 GMT, US, Non-Farm Payrolls and Unemployment Rate
18:00 GMT, FED President Ben Bernanke speaks
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