The price of benchmark WTI Crude Oil is in a corrective trend, trading slightly above the level of 100.00 amid persisting geopolitical tensions in the Persian Gulf region.

The probability of the price growth remains.

On the daily chart, an upward third wave (3) is forming, within which the first wave of the lower degree 1 of (3) and a correction as the second wave 2 of (3) have completed, and the third wave 3 of (3) has started. At the moment, the third wave iii of 3 is developing, within which the third wave (iii) of iii and a correction as the fourth wave (iv) of iii have finished, and the fifth wave (v) of iii is forming. If the assumption is correct, the asset price will grow to the area of 110.00–120.00. The critical stop loss level for this scenario is 91.95.