WTI Crude Oil: Elliott wave analysis and forecast for 30.08.24 – 06.09.24

Highlights and key points

Main scenario: once a correction forms, consider short positions below the level of 83.94 with a bearish target of 63.50 – 53.60. A sell signal: after the price returns below 83.94. Stop Loss: above 85.50, Take Profit: 63.50 – 53.60.
Alternative scenario: breakout and consolidation above the level of 83.94 will allow the asset to continue rising to the levels of 89.53 – 94.10. A buy signal: after the level of 83.94 is broken to the upside. Stop Loss: below 81.50, Take Profit: 89.53 – 94.10.

Main scenario

Consider short positions below the level of 83.94… Read full author’s opinion and review in blog of #LiteFinance