WTI Crude Oil: Elliott wave analysis and forecast for 26.07.24 – 02.08.24

Highlights and key points Main scenario: consider short positions from corrections below the level of 83.33 with a target of 72.30 – 67.60. A sell signal: after the level of 83.33 is broken. Stop Loss: 85.00; Take Profit: 67.60. Alternative scenario: breakout and consolidation above the level of 83.33 will allow the asset to continue rising to the levels of 90.95 – 95.25. A buy signal: after the level of 83.33 is broken. Stop Loss: 82.00; Take Profit: 95.25.Main scenarioConsider shor