2026.06.12 2026.06.12
WTI Crude Oil: Elliott Wave Analysis and Forecast for 12.06.26–19.06.26

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

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 gold market has chopped back and forth during the trading session here on Thursday as we are hovering just above the crucial $4,000 level.

• The $4,000 level is an area that I think traders continue to look at very closely, mainly due to the idea that a large, round, psychologically significant figure probably attracts a lot of attention from options traders.

That being said, it’s interesting that the XAU/USD pair continues to look kind of sluggish despite the fact that interest rates are starting to drop. So that is a little bit of a move from the negative correlation between interest rates and gold that we saw. Regardless, the $4,000 level for me is crucial. If we give that up, we will probably drop another $500.

I’m not a big fan of shorting gold, although it clearly doesn’t do well buying it over the last couple of weeks. But if we do bounce from here, I can see a short-term opportunity might present itself for both buyers and sellers. I would anticipate that the 200-day EMA offers a bit of a barrier.

Ultimately, this is a market that I would fade signs of exhaustion until we see some type of change in attitude, and it’s probably worth noting that the US dollar is extraordinarily strong despite the fact that we have the overall attitude of the markets changing, and I think you have a market that I think remains noisy.

Long-Term Trend and Trading Strategy

Longer term, I do like gold, but I think if we do pull back from here, and when you look at the longer-term charts, it does make a certain amount of sense, we could drop down to the $3,500 level, and it would just be a nice pullback in a huge uptrend.

So, with that being said, I like the idea of buying gold eventually, just not right now. If you’re a day trader, you might be able to trade the pop, but you have to be very nimble and get out at the first sign of trouble.

Ready to trade today’s Gold prediction? Here’s a list of some of the best XAU/USD brokers to check out.

Christopher Lewis is a technical analyst and market commentator at DailyForex with more than two decades of trading experience in Forex and other leveraged markets. Based in Columbus, Ohio, he specializes in chart-based analysis of major currency pairs, stock indices, commodities, and energy markets, focusing on clear support and resistance levels, trend structure, and risk management. Christopher produces daily written and video analysis for traders who rely on technical setups to navigate volatile market conditions

As seen on: Pairs Of Aces Podcast,The Trader Guy, FXEmpire

The price of copper recently tested the additional support level at $6.1000, which has formed a strong barrier against attempts to resume the corrective decline. As a result, we are currently seeing some positive waves forming, with the price stabilizing near $6.3600.

We expect the price to be influenced by sideways movement dominance due to its repeated confinement between the previously mentioned support level, while the $6.6600 level continues to act as a strong barrier at the moment. However, the stochastic indicator attempting to provide negative momentum increases the chances of renewed corrective moves, which may pressure the support again and create an opportunity to resume the corrective downtrend in the short to medium term.

Expected trading range for today: between $5.1000 and $6.4200

Today’s forecast: Bearish, as long as the resistance holds

Stay informed on platinum price trends in Jayankondam. Today’s rates stand at ₹51,060
for 10g, ₹5,10,600 for 100g, and ₹51,06,000 for 1kg. In June, platinum
saw fluctuations. The highest rate for 100g touched ₹5,95,300,
and the lowest fell to ₹5,10,200. For 1kg, prices ranged from
₹51,02,000 to ₹59,53,000.

Global supply chains, mining rates, and geopolitical issues are major drivers of platinum
prices. Demand from the auto and electronics industries adds pressure. Exchange rate
movements, especially against the US dollar, combined with inflation trends and central
bank strategies, contribute significantly to changes in platinum’s market price.

• Silver has drifted a little bit lower during the trading session here on Wednesday as interest rates remain elevated.

• What’s interesting is that the gold market really fell apart, and silver was a little bit more resilient, but I have a theory.

My theory, of course, is that there will be more demand for silver going forward than gold because not only do we have a scenario where interest rates have an influence, but we also have to keep in mind that the amount of supply of silver is nowhere near sufficient to satiate the demand that AI data centers and the electrification of the economy are going to demand.

It’s very similar to the situation copper’s in. I believe at this point in time that silver will fare better than gold, but that doesn’t necessarily mean that it will go higher. Interest rates being elevated the way they are and remaining elevated the way they are due to the concerns of, or in the Middle East and the supply chain, I think, continues to be the biggest headwind here.

I See Support Below

Really at this point in time, if we do continue to drop, I think the $60 level is a fairly strong floor. Nonetheless, I think this is a market that, if we do see rates drop, this will be a natural place for buyers to jump in.

If we were to break to the upside, the 200-day EMA is a short-term ceiling, breaking above that then allows the market to challenge $70. Long-term, I fully anticipate that silver will reach $120 again, but we have a lot of work and a lot of things that have to fall in line. If you’re an investor, this might be an area where you would pick up a little bit of silver. If you’re a trader, you still have to see this as a bearish market.

Ready to trade our daily forex analysis and predictions? Here are the best Silver trading brokers to choose from.

Christopher Lewis is a technical analyst and market commentator at DailyForex with more than two decades of trading experience in Forex and other leveraged markets. Based in Columbus, Ohio, he specializes in chart-based analysis of major currency pairs, stock indices, commodities, and energy markets, focusing on clear support and resistance levels, trend structure, and risk management. Christopher produces daily written and video analysis for traders who rely on technical setups to navigate volatile market conditions

As seen on: Pairs Of Aces Podcast,The Trader Guy, FXEmpire

There is no change in natural gas price trading, trading in sideways range while remaining near the $3.200 level. This behavior is influenced by the ongoing conflict among the main technical indicators during the recent period.

Noting that Stochastic attempt to exit the overbought zone could increase negative pressure on current trading, making it easier for the price to target negative levels at $2.950 and $2.800.

The price’s move to bullish trend requires a strong bullish rally to settle above $3.520 level, which allows it to record several gains by its gradual rally towards $3.710 and $3.950.

Expected trading range for today: Between $2.950 and $3.300

Today’s price outlook: Bearish

Today’s Gold Analysis Overview:

• The Overall Gold Trend: Strongly Bearish.

• Today’s Gold Support Points: $4,000 – $3,935 – $3,800 per ounce.

• oday’s Gold Resistance Points: $$4,190 – $4,330 – $4,400 per ounce.

Today’s Gold Trading Signals:

• Bullish Scenario: Buy gold from the support level of $3,980 with a target of $4,300 and a stop loss at $3,900.

• Bearish Scenario: Sell gold from the resistance level of $4,290 with a target of $4,000 and a stop-loss at $4,340.

Note: These recommendations are suitable for medium-to-long-term traders, provided there is strict adherence to capital and risk management

Daily Technical Analysis of Gold/US Dollar (XAU/USD):

Gold prices continue to face heavy selling pressure as market bets increase on the continuation of the US Federal Reserve’s tight monetary policy. This comes in the wake of strong economic data that boosted the US Dollar and reinforced expectations that interest rates will remain at elevated levels for a longer period. The prevailing expectation now is the probability of the Federal Reserve raising interest rates before the end of the year, which is highly likely to negatively impact the precious metal’s prices.

Under the influence of these factors, gold prices dropped during Thursday’s trading session to the $4,023 per ounce level, the lowest recorded price in 8 months—before stabilizing near $4,100 per ounce at the time of writing this analysis.

On the technical front across the best trading platforms, indicators still support the continuation of the bearish trend. On the weekly chart, the Stochastic oscillator is moving away from oversold territories, indicating that there is additional room to continue the decline before any strong reversal signals emerge.

From a technical perspective, indicators continue to support the continuation of the downward trend across the best trading platforms. On the weekly chart, the Stochastic oscillator is moving away from oversold territory, indicating further room for decline before a strong reversal signal emerges.

The markets are also anticipating a test of the important support zone around $4,000 per ounce, which represents a significant psychological and technical barrier. A break below this level and a sustained close below it would open the way for targets of $3,935 and then $3,800 per ounce in the coming period.

Conversely, the yellow metal’s prices might witness technical recovery attempts if buyers succeed in defending the $4,000 level, especially with some technical indicators approaching oversold areas on short-term timeframes, such as the Relative Strength Index (RSI) and the MACD indicator.

However, a return to the upward trend in the medium term requires a weakening of the US dollar and a decrease in expectations of tightening US monetary policy, along with gold successfully regaining trading above the resistance levels of $4,260 and then $4,500 per ounce. This could change the current negative outlook for prices.

Trading Advice:

The price of gold will remain in its downward trend in the current period. Buying opportunities can be seized at several lower levels without risk, while monitoring market factors.

Ready to trade our Gold price forecast? We’ve made a list of the best Gold trading platforms worth trading with.

Copper price continued providing negative closes below the resistance at $6.6600 level, forming several corrective waves, approaching the initial support at $6.1000, which represents detecting key for the expected trend in the near and medium trading.

Noticing the continuation of providing negative momentum by stochastic, which makes us wait for breaking the current support, to reinforce the chances of targeting extra corrective stations by reaching $5.9600 and $5.8200.

The expected trading range for today is between $ 5.9600 and $6.3600

Trend forecast: Bearish

Track the latest platinum price trends in Perambalur. Today, platinum is priced at
₹51,020 for 10 grams, ₹5,10,200 for 100 grams, and ₹51,02,000
per kilogram. In June, platinum prices fluctuated. The highest for 100 grams was
₹5,95,300, and the lowest ₹5,10,200. For 1
kg, prices ranged from ₹51,02,000 to ₹59,53,000.

Several factors affect platinum prices, such as global demand and supply dynamics,
mining activity, and geopolitical risks. Industrial consumption—mainly in the automotive
and electronics sectors—also drives price trends. Currency movements, especially of
the US dollar, along with inflation, investor behavior, and central bank actions, further
influence market value.