The main category of Forex News.
You can use the search box below to find what you need.
[wd_asp id=1]
12
06, 2026
WTI Crude Oil: Elliott Wave Analysis and Forecast for 12.06.26–19.06.26
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider short positions from corrections below the level of 92.06 with a target of 78.00–65.00. A sell signal: the price holds below 92.06. Stop Loss: above 93.00, Take Profit: 78.00–65.00.
- Alternative scenario: Breakout and consolidation above the level of 92.06 will allow the asset to continue rising to the levels of 105.17–115.45. A buy signal: the level of 92.06 is broken to the upside. Stop Loss: below 91.00, Take Profit: 105.17–115.45.
Main Scenario
Consider short positions from corrections below the level of 92.06 with a target of 78.00–65.00.
Alternative Scenario
Breakout and consolidation above the level of 92.06 will allow the asset to continue rising to the levels of 105.17–115.45.
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) appears to have started 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 78.00–65.00. The level of 92.06 is critical in this scenario as a breakout above it will enable the asset to continue rising to the levels of 105.17–115.45.
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.
