The price of the benchmark WTI Crude Oil continues its corrective dynamics, trading slightly below the 90.00 level amid sustained geopolitical tensions in the Persian Gulf region.

The growth could continue.

On the daily chart, an ascending third wave (3) is developing, within which the first wave of a lower degree 1 of (3) and a correction as wave two 2 of (3) have completed, and wave three 3 of (3) has started. Currently, wave iii of 3 continues, within which wave three (iii) of iii and a correction as wave four (iv) of iii have completed. If the assumption is correct, the WTI Crude Oil price will rise to the area of 110.00–120.00. The critical stop loss level for this scenario is 87.35.