WTI Crude Oil: Elliott wave analysis and forecast for 08.12.23 – 15.12.23

Main scenario: consider short positions from corrections below the level of 85.30 with a target of 55.00 – 45.00.

Alternative scenario: breakout and consolidation above the level of 85.30 will allow the asset to continue rising to the levels of 91.05 – 95.65.

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 H4 time frame, with the first wave of smaller degree i of С forming as its part…. Read full author’s opinion and review in blog of #LiteFinance