WTI Crude Oil: Elliott wave analysis and forecast for 05.09.25 – 12.09.25
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider long positions from corrections above the level of 61.10 with a target of 70.00 – 77.65. A buy signal: the price holds above 61.10. Stop Loss: below 58.00, Take Profit: 70.00 – 77.65.
- Alternative scenario: Breakout and consolidation below the level of 61.10 will allow the pair to continue declining to the levels of 57.50 – 54.80. A sell signal: the level of 61.10 is broken to the downside. Stop Loss: above 63.50, Take Profit: 57.50 – 54.80.
Main Scenario
Consider long positions from corrections above the level of 61.10 with a target of 70.00 – 77.65.
Alternative Scenario
Breakout and consolidation below the level of 61.10 will allow the asset to continue declining to the levels of 57.50 – 54.80.
Analysis
A descending correction appears to have formed as the second wave of larger degree (2) on the weekly chart, with wave С of (2) completed as its part. On the daily time frame, the third wave (3) appears to have started developing. Within it, a counter-trend first wave of smaller degree i of 1 of (3) has formed, and a downward correction has ended as the second wave ii of 1 of (3). On the H4 time frame, the third wave iii of 1 of (3) has presumably started developing, within which wave (i) of iii has formed and a local correction has been completed as wave (ii) of iii. If the presumption is correct, WTI will continue to rise to the levels of 70.00 – 77.65. The level of 61.10 is critical in this scenario as a breakout will enable the price to continue falling to the levels of 57.50 – 54.80.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Price chart of USCRUDE in real time mode
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