WTI Crude Oil: Elliott wave analysis and forecast for 26.04.24 – 03.05.24

Main scenario: consider long positions from corrections above the level of 81.08 with a target of 94.00 – 100.00.Alternative scenario: breakout and consolidation below the level of 81.08 will allow the asset to continue declining to the levels of 76.50 – 71.00.Analysis: supposedly, a downward correction is completed as second wave of larger degree (2) on the daily chart. The ascending third wave (3) started forming, with wave 1 of (3) developing as its part. On the H4 time frame, the