WTI Crude Oil: Elliott wave analysis and forecast for 12.04.24 – 19.04.24

Main scenario: consider long positions from corrections above the level of 80.60 with a target of 94.00 – 100.00.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 descending correction presumably finished developing as second wave of larger degree (2), and the third ascending wave (3) started forming on the daily chart. On the H4 time frame, the first wave 1 of (3) is develop