WTI Crude Oil: Elliott wave research and forecast for 01.03.24 – 08.03.24

Major state of affairs: imagine lengthy positions from corrections above the extent of 75.78 with a goal of 84.65 – 88.55.

Selection state of affairs: breakout and consolidation under the extent of 75.78 will permit the asset to proceed declining to the degrees of 63.67 – 55.00.

Research: a drawback correction probably continues growing as 2nd wave of bigger level (2) at the day by day time period, with waves A of (2) and B of (2) finished as its portions. Wave С of (2) is growing at the H4 time period, with the primary wave of smaller level i of C shaped and an ascending correction forming as 2nd wave ii of C inside of. At the H1 time period, it seems that, wave (c) of ii is growing, with wave iii of (c) forming inside of. If the presumption is right kind, the WTI asset will proceed to upward push to the degrees of 84.65 – 88.55. The extent of 75.78 is important on this state of affairs as a breakout will permit the associated fee to proceed falling to the degrees of 63.67 – 55.00

Worth chart of USCRUDE in actual time mode

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