WTI Crude Oil: Elliott wave analysis and forecast for 05.04.24 – 12.04.24

Main scenario: consider long positions from corrections above the level of 80.60 with a target of 88.55 – 91.02.Alternative scenario: breakout and consolidation below the level of 80.60 will allow the asset to continue declining to the levels of 76.50 – 71.00.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) is developing on the H4 ti