2026.02.27 2026.02.27
WTI Crude Oil: Elliott Wave Analysis and Forecast for 27.02.26–06.03.26

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

Major Takeaways

• Main scenario: Consider short positions from corrections below the level of 67.30 with a target of 55.00–50.50. A sell signal: the price holds below 67.30. Stop Loss: above 67.30, Take Profit: 55.00–50.50.
• Alternative scenario: Breakout and consolidation above the level of 67.30 will allow the asset to continue rising to the levels of 77.50–87.00. A buy signal: the level of 67.30 is broken to the upside. Stop Loss: below 67.30, Take Profit: 77.50–87.00.

Main Scenario

Consider short positions from corrections below the level of 67.30 with a target of 55.00–50.50.

Alternative Scenario

Breakout and consolidation above the level of 67.30 will allow the asset to continue rising to the levels of 77.50–87.00.

Analysis

A descending correction appears to continue forming as the second wave of larger degree (2) on the weekly chart, with wave C of (2) developing as its part. On the daily time frame, a bullish correction appears to have formed as the fourth wave iv of C, and the fifth wave v of C has started developing. The third wave of smaller degree (iii) of v of C has presumably been completed on the H4 time frame. The fourth wave (iv) of v has finished forming as a local correction. If the presumption is correct, WTI will continue to drop to 55.00–50.50 within wave (v) of v. The level of 67.30 is critical in this scenario as a breakout above it will enable the price to continue rising to the levels of 77.50–87.00.

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