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.

Last week, benchmark WTI Crude Oil was moving in the 88.20–95.75 range, maintaining high volatility against changes in the geopolitical situation in the Persian Gulf region, and is currently rising against the results of US-Iranian negotiations within the frame of the United Nations (UN) General Assembly meeting.