WTI Crude Oil: Elliott Wave Analysis and Forecast for 24.01.25 – 31.01.25

Major Takeaways Main scenario: Consider long positions from corrections above the level of 72.72 with a target of 85.00 – 94.97. A buy signal: the price holds above 72.72. Stop Loss: below 72.00, Take Profit: 85.00 – 94.97. Alternative scenario: breakout and consolidation below the level of 72.72 will allow the pair to continue declining to the levels of 66.65 – 61.50. A sell signal: the level of 72.72 is broken to the downside. Stop Loss: above 73.20, Take Profit: 66.65 &ndash