WTI Crude Oil: Elliott Wave Analysis and Forecast for 06.12.24 – 13.12.24

Major Takeaways Main scenario: Consider short positions from corrections below the level of 71.56 with a target of 61.50 – 53.60. A sell signal: the price holds below 71.56. Stop Loss: above 72.00, Take Profit: 61.50 – 53.60. Alternative scenario: Breakout and consolidation above the level of 71.56 will allow the asset to continue rising to the levels of 77.90 – 83.75. A buy signal: the level of 71.56 is broken to the upside. Stop Loss: below 71.10, Take Profit: 77.90 – 8