WTI Crude Oil: Elliott wave analysis and forecast for 23.08.24 – 30.08.24

Highlights and key points Main scenario: once a correction forms, consider short positions below the level of 78.85 with a bearish target of 63.50 – 53.60. A sell signal: after the price returns below 78.85. Stop Loss: above 80.00, Take Profit: 63.50 – 53.60. Alternative scenario: breakout and consolidation above the level of 78.85 will allow the asset to continue rising to the levels of 84.16 – 94.10. A buy signal: after the level of 78.85 is broken to the upside. Stop Loss: b