WTI Crude Oil: Elliott wave analysis and forecast for 29.12.23 – 05.01.24

Main scenario: consider long positions from corrections above the level of 67.90 with a target of 81.80 – 85.15.Alternative scenario: breakout and consolidation below the level of 67.90 will allow the asset to continue declining to the levels of 55.00 – 45.00.Analysis: a downside correction presumably continues developing as second wave of larger degree (2) on the daily time frame, with waves A of (2) and B of (2) completed as its parts. Wave С of (2) started developing on the