Main scenario: consider long positions from corrections above the level of 67.90 with a target of 81.80 – 85.15.
Alternative scenario: breakout and consolidation below the level of 67.90 will allow the asset to continue declining to the levels of 55.00 – 45.00.
Analysis: a downside correction presumably continues developing as second wave of larger degree (2) on the daily time frame, with waves A of (2) and B of (2) completed as its parts. Wave С of (2) started developing on the H4 time frame, with the first wave of smaller degree i of С formed as its part. A local correction appears to be unfolding as second wave ii of C on the H1 time frame, with wave (a) of ii formed and wave (b) of ii developing as its parts. If the presumption is correct, the WTI will continue to rise to the levels of 81.80 – 85.15 in wave (c) of ii once the correction is over. The level of 67.90 is critical in this scenario as a breakout will enable the price to continue falling to the levels of 55.00 – 45.00.
Price chart of USCRUDE in real time mode
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منبع: https://www.litefinance.org/blog/analysts-opinions/wti-crude-oil-elliott-wave-analysis-and-forecast-for-291223-050124/
