WTI Crude Oil: Elliott wave analysis and forecast for 11.07.25 – 18.07.25
The article covers the following subjects:
Major Takeaways
- Main scenario: Once the correction ends, consider long positions above the level of 59.23 with a target of 80.50 – 85.00. A buy signal: the price holds above 59.23. Stop Loss: below 56.50, Take Profit: 80.50 – 85.00.
- Alternative scenario: Breakout and consolidation below the level of 59.23 will allow the pair to continue declining to the levels of 54.85 – 50.00. A sell signal: the level of 59.23 is broken to the downside. Stop Loss: above 62.00, Take Profit: 54.85 – 50.00.
Main Scenario
Consider long positions above the level of 59.23 with a target of 80.50 – 85.00 once the correction is formed.
Alternative Scenario
Breakout and consolidation below the level of 59.23 will allow the asset to continue declining to the levels of 54.85 – 50.00.
Analysis
The 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 timeframe, the third wave (3) has started unfolding, with the counter-trend first wave of smaller degree i of 1 of (3) forming as its part. Wave (iii) of i is formed on the H4 chart, and a local correction is presumably nearing completion in the form of wave (iv) of i. If the presumption is correct, WTI will continue to rise to the levels of 80.50 – 85.00 after the correction ends. The level of 59.23 is critical in this scenario as a breakout will enable the price to continue falling to the levels of 54.85 – 50.00.
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
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
