Hellena | OIL (4H): LONG toward the unfilled gap area at 87.59.WTI Cash (or Spot) ContractPEPPERSTONE:SPOTCRUDEHellena_TradeOIL continues to develop within a complex corrective structure. According to the current wave count, the larger wave "W" has already been completed, while the next part of the correction, wave "X", is now unfolding. Within wave "X", the price is developing wave "B" of the higher degree. However, the intermediate bearish wave "C" is probably not complete yet. For this reason, I allow for another decline toward the 72.21 support area before the main bullish move begins. This is where intermediate wave "C" may end and create a foundation for the next advance. Nevertheless, the bullish scenario remains my priority. An unfilled gap is located around 87.59, and the price has not yet returned to close it completely. This provides an additional reason to expect another move toward this area. My first bullish target is the 86.10-88.70 resistance area, with 87.59 as the main reference level. The unfilled gap coincides with a significant technical area from which the previous sharp decline began. I am considering long positions only. An entry may be considered from current levels if a reliable bullish pattern appears, or after wave "C" completes around the 72.21 support area. The second option requires waiting for a clear price reaction within the support zone and using limit orders with strict risk control. Uncertainty surrounding the possible reopening of the Strait of Hormuz is currently supporting oil prices. At the same time, expectations of recovering supply flows and rising global inventories may limit the upside. The fundamental backdrop therefore remains volatile, although short-term supply risks currently favor higher prices. Manage your capital properly and wisely! Enter trades only based on reliable patterns!