WTI Crude Oil Wave Count Points to Extension from July Low

Once this five-wave move completes, a larger corrective phase in wave (B) is expected. That retracement would consolidate gains before the broader uptrend resumes, the wave analysis shows. The pivot at $67.05 remains the key floor; as long as it holds, pullbacks should attract buyers.

The five-wave sequence from the July low strongly favors an extension in wave (C) or wave (3), both implying continuation of the impulsive pattern. A break above the wave 3 high at $85.39 would confirm the extension.