In this technical article we’re going to take a quick look at the weekly Elliott Wave charts of Oil Futures, published in members area of the website. As many of our members are aware, the commodity has given us decent rally recently. In the following sections, we’ll delve into the Elliott Wave pattern and explain the forecast.OIL H1 Update 12.20.2024The commodity is giving us correction against the 66.96 low. The pullback has already reached the extreme zone at 69.18-67.81, and we believe buyers should take the lead soon. At this stage, we advise against forcing trades in OIL . We expect buyers to push the price higher from the marked extreme zone, ideally toward new highs. 
OIL H1 Update 01.02.2025OIL responded exactly as expected. It found buyers at the Extreme Area ( 69.18-67.81) , making rally toward new highs. CL_F should ideally keep finding intraday buyers in 3,7,11 swings against the 66.96 pivot.Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.We put them in Sequence Report and best among them are shown in the Live Trading Room.90% of traders fail because they don’t understand market patterns. Are you in the top 10%? Test yourself with this advanced Elliott Wave Test Elliott Wave ForecastThank you for exploring our OIL (CL_F) Forecast with us. While we analyze 78 instruments, it’s important to remember that not every chart represents a trading recommendation. For official trading signals, we invite you to join our Live Trading Room, where we provide actionable insights in real-time. If you’re not yet a member, take advantage of our 14-day trial to unlock new trading opportunities.Over the years, we’ve developed a reliable trading strategy that clearly defines entry, stop loss, and take profit levels. By joining us, you’ll gain access to expert guidance and the chance to refine your trading skillsMore By This Author:XAUUSD Has Ended Correction And Turned HigherElliott Wave View: S&P 500 Looking For A Double Correction Gold: Elliott Wave Analysis Predicts The Decline From Extreme Zone
