During the morning session, WTI Crude Oil prices are demonstrating mixed dynamics, consolidating near 103.00. “bullish” activity remains restrained; however, persisting geopolitical risks continue to support price.

The probability of growth remains.

On the daily chart, a correction has formed as the higher-degree wave (2), while an upward third wave (3) is developing, including the first lower-degree wave 1 of (3). On the four-hour time frame, the downward correction has ended as wave 2 of (3), and wave 3 of (3) is now developing, forming lower-degree wave iii of 3. If this scenario proves correct, the asset’s upward trend is expected to continue toward the 115.00–125.00 zone, with a critical stop loss level at 87.70.

WTI Crude Oil prices remain confined within a broad sideways range of 84.00–106.00, currently trading around 97.50, with price action exhibiting elevated instability amid geopolitical catalysts that remain contradictory and continue to prevent the establishment of a sustained directional bias. The day prior, prices again began to build a “bullish” momentum amid diminishing expectations of an imminent resolution to the Middle East crisis.