2026.06.19 2026.06.19
WTI Crude Oil: Elliott Wave Analysis and Forecast for 19.06.26–26.06.26

Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/

Major Takeaways

• Main scenario: Consider short positions from corrections below the level of 80.45 with a target of 70.00–65.00. A sell signal: the price holds below 80.45. Stop Loss: above 82.00, Take Profit: 70.00–65.00.
• Alternative scenario: Breakout and consolidation above the level of 80.45 will allow the asset to continue rising to the levels of 91.80–105.17. A buy signal: the level of 80.45 is broken to the upside. Stop Loss: below 79.00, Take Profit: 91.80–105.17.

Main Scenario

Consider short positions from corrections below the level of 80.45 with a target of 70.00–65.00.

Alternative Scenario

Breakout and consolidation above the level of 80.45 will allow the asset to continue rising to the levels of 91.80–105.17.

Analysis

A descending correction appears to have formed as the second wave of larger degree (2) on the weekly chart, with wave C of (2) completed as its part. On the daily time frame, an ascending third wave (3) is developing. Within it, the first wave of smaller degree 1 of (3) has formed, and a downward correction is unfolding as the second wave 2 of (3). Wave c of 2 is presumably developing on the H4 chart; within it, wave (v) of c is unfolding. If the presumption is correct, WTI will continue to decline to the levels of 70.00–65.00. The level of 80.45 is critical in this scenario as a breakout above it will enable the asset to continue rising to the levels of 91.80–105.17.

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