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Main scenario: Consider short positions from corrections below 87.75 with a target of 67.60 – 57.00.
Alternative scenario: A breakout and consolidation above the 87.75 level will allow the asset to continue rising to the 94.00 – 100.00 levels.
analysis: The downward correction should continue to develop as a second wave of larger degree (2) on the daily chart, with wave C of (2) appearing as part of it. It is clear that the upward correction has been completed with the appearance of the second wave of the second smaller degree of C on the H4 time frame, and the third wave iii of С begins to appear. Wave (i) of iii is formed, and a local corrective wave (ii) of iii develops on the H1 time frame. After completing it, if the presumption is valid, then West Texas Intermediate crude oil The price is expected to fall to 67.60 – 57.00 levels. The 87.75 level is crucial in this scenario as a breakout will allow the asset to continue rising to the 94.00 – 100.00 levels.
USCRUDE price chart in real time mode
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