WTI Crude Oil: Elliott wave analysis and forecast for 08.03.24 – 15.03.24

Main scenario: consider long positions from corrections above the level of 75.78 with a target of 84.65 – 88.55.Alternative scenario: breakout and consolidation below the level of 75.78 will allow the asset to continue declining to the levels of 63.67 – 55.00.Analysis: a downside correction presumably continues developing as the 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 H