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01-24

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Elliott Wave View: Light Crude Oil (CL) Looking for Larger Degree Correction

@Elliottwave_Forecast：

The short-term Elliott Wave outlook for Oil (CL) shows the cycle from the June 23, 2025 peak ended at the December 16, 2025 low of $54.98. After this completion, Oil began correcting the prior cycle in a larger degree, expected to unfold in either three or seven swings. From the December 16 low, wave ((i)) advanced to $58.88. The pullback in wave ((ii)) developed as a zigzag structure. Within this correction, wave (a) ended at $56.65, wave (b) reached $58.87, and wave (c) declined to $55.76. This sequence completed wave ((ii)) in higher degree. Oil then resumed higher in wave ((iii)), subdividing into five waves. From wave ((ii)), wave (i) ended at $57.17, followed by a pullback in wave (ii) that concluded at $55.86. Wave (iii) advanced to $59.8, while wave (iv) corrected to $58.45. The final leg, wave (v), extended to $62.36, completing wave ((iii)) in higher degree. A corrective phase unfolded in wave ((iv)), again forming a zigzag. From wave ((iii)), wave (a) ended at $59.19, wave (b) advanced to $61.85, and wave (c) declined to $58.7. This completed wave ((iv)) in higher degree. Oil has since turned higher in wave ((v)). From wave ((iv)), wave (i) ended at $60.68, while the pullback in wave (ii) concluded at $59.22. Near term, as long as the pivot at $55.76 remains intact, Oil is expected to continue higher. Oil (CL) 60 minute chart CL Elliott Wave video:

Elliott Wave View: Light Crude Oil (CL) Looking for Larger Degree Correction

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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After this completion, Oil began correcting the prior cycle in a larger degree, expected to unfold in either three or seven swings. From the December 16 low, wave ((i)) advanced to $58.88. The pullback in wave ((ii)) developed as a zigzag structure. Within this correction, wave (a) ended at $56.65, wave (b) reached $58.87, and wave (c) declined to $55.76. This sequence completed wave ((ii)) in higher degree.</p>\n<p style=\"text-align: justify;\">Oil then resumed higher in wave ((iii)), subdividing into five waves. From wave ((ii)), wave (i) ended at $57.17, followed by a pullback in wave (ii) that concluded at $55.86. Wave (iii) advanced to $59.8, while wave (iv) corrected to $58.45. The final leg, wave (v), extended to $62.36, completing wave ((iii)) in higher degree. A corrective phase unfolded in wave ((iv)), again forming a zigzag. From wave ((iii)), wave (a) ended at $59.19, wave (b) advanced to $61.85, and wave (c) declined to $58.7. This completed wave ((iv)) in higher degree. Oil has since turned higher in wave ((v)). From wave ((iv)), wave (i) ended at $60.68, while the pullback in wave (ii) concluded at $59.22. Near term, as long as the pivot at $55.76 remains intact, Oil is expected to continue higher.</p>\n<h2>Oil (CL) 60 minute chart</h2>\n<h2></h2>\n<h2>CL Elliott Wave video:</h2></body></html>","htmlText":"<html><head></head><body><p style=\"text-align: justify;\">The short-term Elliott Wave outlook for Oil (CL) shows the cycle from the June 23, 2025 peak ended at the December 16, 2025 low of $54.98. After this completion, Oil began correcting the prior cycle in a larger degree, expected to unfold in either three or seven swings. From the December 16 low, wave ((i)) advanced to $58.88. The pullback in wave ((ii)) developed as a zigzag structure. Within this correction, wave (a) ended at $56.65, wave (b) reached $58.87, and wave (c) declined to $55.76. This sequence completed wave ((ii)) in higher degree.</p>\n<p style=\"text-align: justify;\">Oil then resumed higher in wave ((iii)), subdividing into five waves. From wave ((ii)), wave (i) ended at $57.17, followed by a pullback in wave (ii) that concluded at $55.86. Wave (iii) advanced to $59.8, while wave (iv) corrected to $58.45. The final leg, wave (v), extended to $62.36, completing wave ((iii)) in higher degree. A corrective phase unfolded in wave ((iv)), again forming a zigzag. From wave ((iii)), wave (a) ended at $59.19, wave (b) advanced to $61.85, and wave (c) declined to $58.7. This completed wave ((iv)) in higher degree. Oil has since turned higher in wave ((v)). From wave ((iv)), wave (i) ended at $60.68, while the pullback in wave (ii) concluded at $59.22. Near term, as long as the pivot at $55.76 remains intact, Oil is expected to continue higher.</p>\n<h2>Oil (CL) 60 minute chart</h2>\n<h2></h2>\n<h2>CL Elliott Wave video:</h2></body></html>","text":"The short-term Elliott Wave outlook for Oil (CL) shows the cycle from the June 23, 2025 peak ended at the December 16, 2025 low of $54.98. After this completion, Oil began correcting the prior cycle in a larger degree, expected to unfold in either three or seven swings. From the December 16 low, wave ((i)) advanced to $58.88. The pullback in wave ((ii)) developed as a zigzag structure. Within this correction, wave (a) ended at $56.65, wave (b) reached $58.87, and wave (c) declined to $55.76. This sequence completed wave ((ii)) in higher degree. Oil then resumed higher in wave ((iii)), subdividing into five waves. From wave ((ii)), wave (i) ended at $57.17, followed by a pullback in wave (ii) that concluded at $55.86. Wave (iii) advanced to $59.8, while wave (iv) corrected to $58.45. The final leg, wave (v), extended to $62.36, completing wave ((iii)) in higher degree. A corrective phase unfolded in wave ((iv)), again forming a zigzag. From wave ((iii)), wave (a) ended at $59.19, wave (b) advanced to $61.85, and wave (c) declined to $58.7. This completed wave ((iv)) in higher degree. Oil has since turned higher in wave ((v)). From wave ((iv)), wave (i) ended at $60.68, while the pullback in wave (ii) concluded at $59.22. Near term, as long as the pivot at $55.76 remains intact, Oil is expected to continue higher. 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