A fall is possible.

On the daily chart, a downward correction develops as the second wave of the higher level (2), within which the wave C of (2) forms. Now, the first wave of the lower level i of C has ended, a correction has formed as the second wave ii of C, and the third wave iii of C has started, within which a local correction is developing as the wave (ii) of iii. If the assumption is correct, the price of the asset will fall to the area of 67.60–60.00. In this scenario, critical stop loss level is 87.77.

This week, the price of WTI Crude Oil tested 77.75, having closed above it yesterday amid a decline in oil reserves and lower inflation in the United States.

During the Asian session, the quotes for WTI Crude Oil show ambiguous dynamics: the instrument is moderately supported by expectations of the publication of the OPEC report today at 13:00 (GMT+2), while most investors are in no hurry to open new positions, wanting to wait for American inflation data, which will be presented tomorrow at 14:30 (GMT+2).

The price of North American light WTI Crude Oil is moving in a sideways trend, trading at 79.38.