The price of the benchmark WTI Crude Oil is trading in a corrective trend slightly above the 84.00 level, having slowed its decline amid new reports of a possible continuation of the US-Iran conflict.

Last week, the price of the benchmark WTI Crude Oil corrected significantly downwards amid signs of easing tensions in the Persian Gulf region and lower risks of new disruptions in energy supplies.

The probability of growth remains.

On the daily chart, an upward third wave (3) is forming, within which the first wave of a smaller 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. Currently, the third wave iii of 3 and the fifth wave (v) of iii are developing. If the assumption is correct, WTI Crude Oil prices may rise toward 110.00–120.00. The critical stop loss level for this scenario is 98.10.