Crude Oil Elliott Wave technical analysis [Video]
|WTI Elliott Wave analysis
WTI Crude Oil technical overview
Trend: Bearish.
Structure: Double Zigzag.
Outlook: Continuation Lower Toward Sub-$50 Levels.
Summary
WTI Crude Oil is expected to extend its decline after completing a minor bounce that ended around June 22, 2025. The broader outlook remains bearish, with the current structure indicating that the commodity is still within a long-term corrective phase that began in March 2022. As the structure remains incomplete, the downside bias continues with targets below $50.
WTI Elliott Wave analysis – Daily chart
The daily chart of WTI shows the commodity engaged in a long-term corrective decline since March 2022. This movement is correcting the impulsive rise that began in April 2020. The current correction is forming a double zigzag pattern, with wave (w) and wave (x) completed in March 2023 and September 2023, respectively.
Wave (y) is actively unfolding. Within this leg, wave w and x of (y) concluded in April 2025 and June 2025. The final wave y of (y) appears underway and could push prices further below $50 in the near term.
WTI Elliott Wave analysis – Four-hour chart
The H4 chart reveals further short-term bearish structure. WTI appears to have completed waves (1) and (2) of ((A)) of wave y. As long as the price remains below the $69.7 level (wave (2) high) and more significantly, under $78.4 (wave x high), selling pressure is likely to dominate.
Wave (3) of ((A)) could push prices down toward the $49–$46 range. Sustained trading beneath these key resistance levels would reinforce the bearish momentum expected in the coming weeks.
Crude Oil Elliott Wave technical analysis [Video]
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