WTI Crude Oil: Elliott wave analysis and forecast for 03.05.24 – 10.05.24

Main scenario: consider short positions from corrections below the level of 87.45 with a target of 67.60 – 57.00.Alternative scenario: breakout and consolidation above the level of 87.45 will allow the asset to continue rising to the levels of 94.00 – 100.00.Analysis: supposedly, a downward correction continues developing as second wave of larger degree (2) on the daily chart, with wave С of (2) unfolding as its part. Apparently, a local correction is completed as second wave o