WTI Crude Oil: Elliott wave analysis and forecast for 05.07.24 – 12.07.24

Key takeaways Main scenario: Consider short positions below the level of 87.75 with a target of 67.60 – 57.00 once a correction is completed. A sell signal: after the level of 87.75 is broken. Stop Loss: 90.00, Take Profit: 57.00. Alternative scenario: Breakout and consolidation above the level of 87.75 will allow the asset to continue rising to the levels of 94.00 – 100.00. A buy signal: after the level of 87.75 is broken. Stop Loss: 85.00, Take Profit: 100.00.Main scenarioConsider