Since the beginning of the month, the prices of WTI Crude Oil have been steadily rising against increasing geopolitical tension in the Persian Gulf region, trading today at 86.70.

WTI Crude Oil price is correcting slightly below the key level of 80.00 amid a new surge in geopolitical tensions in the Middle East.

The probability of the asset’s growth remains.

On the daily chart, an ascending third wave (3) is forming, within which the first wave of a lower degree 1 of (3) and the correction as the second wave 2 of (3) have completed. Currently, the development of the third wave 3 of (3) and wave (i) of i of 3 has begun. If the assumption is correct, the asset’s growth will continue toward the levels of 85.00–95.00. The critical stop-loss level for this scenario is 67.00.