WTI Crude Oil: Elliott wave analysis and forecast for 03.10.25 – 10.10.25
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider short positions from corrections below the level of 66.35 with a target of 53.50 – 45.00. A sell signal: the price holds below 66.35. Stop Loss: above 66.35, Take Profit: 53.50 – 45.00.
- Alternative scenario: Breakout and consolidation above the level of 66.35 will allow the pair to continue rising to the levels of 77.65 – 87.00. A buy signal: the level of 66.35 is broken to the upside. Stop Loss: below 66.35, Take Profit: 77.65 – 87.00.
Main Scenario
Consider short positions from corrections below the level of 66.35 with a target of 53.50 – 45.00.
Alternative Scenario
Breakout and consolidation above the level of 66.35 will allow the asset to continue rising to the levels of 77.65 – 87.00.
Analysis
The descending correction appears to continue forming as the second wave of larger degree (2) on the weekly chart, with wave C of (2) developing as its part. On the daily time frame, a bullish correction appears to have formed as the fourth wave iv of C, and the fifth wave v of C has started developing. The third wave of smaller degree (iii) of v of C is presumably unfolding on the H4 time frame, within which wave ii of (iii) has been completed as a local correction and wave iii of (iii) is unfolding. If the presumption is correct, WTI will continue to drop to the levels of 53.50 – 45.00. The level of 66.35 is critical in this scenario as a breakout will enable the price to continue growing to 77.65 – 87.00.
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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