Elliott Wave Perspective: Oil’s (CL) Rally Likely to Stall, Signaling Deeper Losses

Elliottwave_Forecast

The current market cycle for Light Crude Oil (CL), starting from its high on January 15, 2025, is unfolding as a double three Elliott Wave pattern. This technical structure suggests a corrective phase with alternating declines and recoveries. From the peak, the price dropped to 55.12, completing wave (W), followed by a rally to 65.07, marking the end of wave (X). The decline has since resumed in wave (Y), which is breaking down into a WXY pattern, indicating further downside momentum.

Within wave (Y), the initial decline, wave W, is forming as a zigzag. From the wave (X) high, the price fell to 61.53 (wave (i)), then rallied to 63.92 (wave (ii)). The decline continued in wave (iii) to 56.39, followed by a bounce to 59.87 in wave (iv). The final drop in wave (v) reached 55.30, completing wave ((a)) in a higher degree. Currently, wave ((b)) is unfolding as a zigzag, with its first leg, wave (a), reaching 60.26. A pullback in wave (b) is expected soon, followed by a rise in wave (c) to complete wave ((b)).

Looking ahead, as long as the key resistance at 65.07 holds, any rally is likely to fail after 3, 7, or 11 swings, leading to further declines. Traders should watch these levels closely for potential selling opportunities.

Oil 60 Minute Elliott Wave Chart

CL Video Analysis

Source:https://elliottwave-forecast.com/news/elliott-wave-perspective-oils-cl-rally-likely-stall-signaling-deeper-losses/

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.

Comments

We need your insight to fill this gap

Leave a comment

1

1

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":432946215850248,"tweetId":"432946215850248","gmtCreate":1746705809718,"gmtModify":1746710214932,"author":{"id":4113409820866582,"idStr":"4113409820866582","authorId":4113409820866582,"authorIdStr":"4113409820866582","name":"Elliottwave_Forecast","avatar":"https://community-static.tradeup.com/news/c00ab1fc45e212abf00117a41ad8354f","vip":5,"userType":5,"introduction":"Elliott Wave Forecasts of 78 markets.","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":9338,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[{"img":"https://community-static.tradeup.com/news/df81211b19a7ed090f318f5656e71aa6"}],"title":"Elliott Wave Perspective: Oil’s (CL) Rally Likely to Stall, Signaling Deeper Losses","html":"<html><head></head><body><h2></h2>\n<p style=\"text-align: justify;\">The current market cycle for Light Crude Oil (CL), starting from its high on January 15, 2025, is unfolding as a double three Elliott Wave pattern. This technical structure suggests a corrective phase with alternating declines and recoveries. From the peak, the price dropped to 55.12, completing wave (W), followed by a rally to 65.07, marking the end of wave (X). The decline has since resumed in wave (Y), which is breaking down into a WXY pattern, indicating further downside momentum.</p>\n<p style=\"text-align: justify;\">Within wave (Y), the initial decline, wave W, is forming as a zigzag. From the wave (X) high, the price fell to 61.53 (wave (i)), then rallied to 63.92 (wave (ii)). The decline continued in wave (iii) to 56.39, followed by a bounce to 59.87 in wave (iv). The final drop in wave (v) reached 55.30, completing wave ((a)) in a higher degree. Currently, wave ((b)) is unfolding as a zigzag, with its first leg, wave (a), reaching 60.26. A pullback in wave (b) is expected soon, followed by a rise in wave (c) to complete wave ((b)).</p>\n<p style=\"text-align: justify;\">Looking ahead, as long as the key resistance at 65.07 holds, any rally is likely to fail after 3, 7, or 11 swings, leading to further declines. Traders should watch these levels closely for potential selling opportunities.</p>\n<h2>Oil 60 Minute Elliott Wave Chart</h2>\n<h2></h2>\n<h2>CL Video Analysis</h2>\n<p></p>\n<video poster=\"https://community-static.tradeup.com/news/df81211b19a7ed090f318f5656e71aa6\" tg-width=\"1920\" tg-height=\"1080\" class=\"ql-video\" controls=\"true\" controlslist=\"nodownload\" playsinline=\"true\" webkit-playsinline=\"true\">\n <source src=\"https://1254107296.vod2.myqcloud.com/b741d586vodhk1254107296/7925edd71397757911968142486/wO9hd6DAnmsA.mp4\">\n</video>\n<p>Source:https://elliottwave-forecast.com/news/elliott-wave-perspective-oils-cl-rally-likely-stall-signaling-deeper-losses/</p></body></html>","htmlText":"<html><head></head><body><h2></h2>\n<p style=\"text-align: justify;\">The current market cycle for Light Crude Oil (CL), starting from its high on January 15, 2025, is unfolding as a double three Elliott Wave pattern. This technical structure suggests a corrective phase with alternating declines and recoveries. From the peak, the price dropped to 55.12, completing wave (W), followed by a rally to 65.07, marking the end of wave (X). The decline has since resumed in wave (Y), which is breaking down into a WXY pattern, indicating further downside momentum.</p>\n<p style=\"text-align: justify;\">Within wave (Y), the initial decline, wave W, is forming as a zigzag. From the wave (X) high, the price fell to 61.53 (wave (i)), then rallied to 63.92 (wave (ii)). The decline continued in wave (iii) to 56.39, followed by a bounce to 59.87 in wave (iv). The final drop in wave (v) reached 55.30, completing wave ((a)) in a higher degree. Currently, wave ((b)) is unfolding as a zigzag, with its first leg, wave (a), reaching 60.26. A pullback in wave (b) is expected soon, followed by a rise in wave (c) to complete wave ((b)).</p>\n<p style=\"text-align: justify;\">Looking ahead, as long as the key resistance at 65.07 holds, any rally is likely to fail after 3, 7, or 11 swings, leading to further declines. Traders should watch these levels closely for potential selling opportunities.</p>\n<h2>Oil 60 Minute Elliott Wave Chart</h2>\n<h2></h2>\n<h2>CL Video Analysis</h2>\n<p></p>\n<video poster=\"https://community-static.tradeup.com/news/df81211b19a7ed090f318f5656e71aa6\" tg-width=\"1920\" tg-height=\"1080\" class=\"ql-video\" controls=\"true\" controlslist=\"nodownload\" playsinline=\"true\" webkit-playsinline=\"true\">\n <source src=\"https://1254107296.vod2.myqcloud.com/b741d586vodhk1254107296/7925edd71397757911968142486/wO9hd6DAnmsA.mp4\">\n</video>\n<p>Source:https://elliottwave-forecast.com/news/elliott-wave-perspective-oils-cl-rally-likely-stall-signaling-deeper-losses/</p></body></html>","text":"The current market cycle for Light Crude Oil (CL), starting from its high on January 15, 2025, is unfolding as a double three Elliott Wave pattern. This technical structure suggests a corrective phase with alternating declines and recoveries. From the peak, the price dropped to 55.12, completing wave (W), followed by a rally to 65.07, marking the end of wave (X). The decline has since resumed in wave (Y), which is breaking down into a WXY pattern, indicating further downside momentum. Within wave (Y), the initial decline, wave W, is forming as a zigzag. From the wave (X) high, the price fell to 61.53 (wave (i)), then rallied to 63.92 (wave (ii)). The decline continued in wave (iii) to 56.39, followed by a bounce to 59.87 in wave (iv). The final drop in wave (v) reached 55.30, completing wave ((a)) in a higher degree. Currently, wave ((b)) is unfolding as a zigzag, with its first leg, wave (a), reaching 60.26. A pullback in wave (b) is expected soon, followed by a rise in wave (c) to complete wave ((b)). Looking ahead, as long as the key resistance at 65.07 holds, any rally is likely to fail after 3, 7, or 11 swings, leading to further declines. Traders should watch these levels closely for potential selling opportunities. Oil 60 Minute Elliott Wave Chart CL Video Analysis Source:https://elliottwave-forecast.com/news/elliott-wave-perspective-oils-cl-rally-likely-stall-signaling-deeper-losses/","highlighted":1,"essential":1,"paper":2,"likeSize":1,"commentSize":0,"repostSize":1,"favoriteSize":0,"link":"https://ttm.financial/post/432946215850248","repostId":0,"isVote":1,"tweetType":2,"object":{"id":"8ec58a150bba477f97ea2b00fabf163f","videoUrl":"https://1254107296.vod2.myqcloud.com/b741d586vodhk1254107296/7925edd71397757911968142486/wO9hd6DAnmsA.mp4","poster":"https://community-static.tradeup.com/news/df81211b19a7ed090f318f5656e71aa6","desc":""},"viewCount":63153,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1189,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/432946215850248"}