The long-awaited bottom formation in WTI Oil (USOILSPOT) has been completed at the $55.00 gray support zone, giving way to a powerful bullish cycle. According to Elliott Wave principles, we are currently within Wave (iii), which offers the highest volatility and profit potential. The technical outlook shows that price has completed its short-term corrections and is charting a course toward the Fibonacci 2.618 expansion target at $79.37. Once this level is cleared, discussing new highs will be inevitable. To ensure you don't miss this major cycle in Oil and other commodity opportunities, subscribe to the Ewplans newsletter now!
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