WTI Crude Oil: Elliott Wave Analysis and Forecast for 31.07.26–07.08.26

Major Takeaways Main scenario: Consider long positions from corrections above 77.05 with a target of 105.17–115.50. A buy signal: the price holds above 77.05. Stop Loss: below 75.50, Take Profit: 105.17–115.50. Alternative scenario: Breakout and consolidation below 77.05 will allow the asset to continue declining to the levels of 67.00–58.50. A sell signal: the level of 77.05 is broken to the downside. Stop Loss: above 78.60, Take Profit: 67.00–58.50.Main ScenarioConsider