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ONEOK Inc (OKE) Should Remain Supported In Bullish Sequence

Elliott Wave Forecast - Tue Apr 16, 12:18PM CDT

ONEOK Inc. (OKE) , engages in gathering, processing, fractionation, storage, transportation & marketing of natural gas & natural gas liquids in the United States. It operates through Natural gas gathering & processing, Natural gas liquids & Natural gas pipelines segments & Refined products & Crude. The company is based in Tulsa, Oklahoma, comes under Energy sector & trades as “OKE” ticker at NYSE.

OKE - Elliott Wave Latest Weekly View:

OKE is trading at all time high, favoring upside in I of (III) as broke above $78.48 high. Above $50.50 low of (II), it expects further upside as the part of impulse sequence as (3) of ((3)) of I. In Weekly sequence, it ended ((II)) at $12.16 in March-2020 low. Above there, it favors upside in (III) of ((III)) as it breaks to new high. It placed (I) of ((III)) at $75.07 high in April-2022 & (II) at $50.50 low as double correction. (II) correction was 0.382 Fibonacci retracement of (I) & missed to reach the extreme areas in y.

OKE - Elliott Wave Latest Daily View: 

Above (II) low, it placed ((1)) of I at $71.57 high & ((2)) at $55.91 low as 0.764 Fibonacci retracement. It placed (2) of ((3)) at $60.58 low & broke to new high above (I) as the part of (3) of ((3)). It placed 1 of (3) at $72.52 high as diagonal structure, 2 at $67.05 low & 3 of (3) at $80.81 high. Currently, it favors pullback in 4 & should correct towards $77.61 - $75.59 area before it may resume rally in 5 of (3). We like to buy the pullback in clear 3, 7 or 11 swings correction at extreme areas, while dips remain above $67.05 low.


On the date of publication, Elliott Wave Forecast did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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