Bearish Elliott Wave Pattern Targets WTI Crude at $68–$73
WTI Light Crude Oil maintains a bearish sequence from its May 19, 2026 high, with wave analysis suggesting a decline toward the $68–$73 range.
CL
According to Elliott Wave analysis, WTI Crude Oil (CL) is maintaining a bearish sequence that began from the May 19, 2026 high. The initial decline formed wave 1 at $86.35, followed by a corrective rally. The pattern suggests further downside, targeting the $68–$73 range.
Traders are monitoring this lower range as the next potential support zone for the commodity.
Source: FXStreet Forex News