Crude Oil: Nested Structure?WTI Oil FutureFX:USOILMehdi_Abbasi_EWP⏱️ Reading Time: ~3 minutes From an Elliott Wave perspective, crude oil appears to have entered a large corrective structure following Wave (I). At this stage, the broader correction is being considered as Wave (II). However, recent price action raises an important possibility: the market may be developing a nested structure across multiple degrees within this correction. Bullish Scenario Under the first scenario, the current structure may consist of a series of nested 1-2 structures across different degrees. If this interpretation is correct, the market could complete the smaller corrective phases and then enter a higher-degree Wave Three. In that situation, what initially appears to be a relatively slow recovery could suddenly accelerate into a much stronger upside move. This nested structure could explain the possibility that, after the recent decline, crude oil may recover with a speed and strength comparable to the decline itself and eventually develop into a broader bullish advance. In this scenario, a break above the key bullish confirmation levels, together with continued Impulsive structure, would provide further evidence for this path. Bearish Scenario The second scenario remains valid. If the current decline continues and the expected bullish structure fails to develop, this decline could first lead to the completion of the current Wave II. If the decline extends further, another possibility is that the correction could expand into a higher degree, completing Wave (II) of the larger structure. In that case, the current decline would no longer represent simply a short-term correction within the bullish scenario. Instead, it could become part of a much larger corrective structure, making the key invalidation and confirmation levels increasingly important. Conclusion At this stage, the key issue for me is not simply the speed of the move, but the structure behind that speed. If the market is developing a nested 1-2 structure, its completion could create the foundation for a powerful and rapid bullish advance. However, if selling pressure continues, the same decline could first complete the current Wave II and, if extended further, potentially complete a correction of one degree higher. Therefore, both paths remain structurally relevant at this stage. The structure that the market develops from here will determine whether this decline is preparing the next bullish acceleration or becoming part of a deeper correction. Price comes first; the wave count comes second. Patterns whisper. I listen. — Mr. Nobody 🎧📊 Brent Crude Oil 5 days ago Brent Crude Oil | Is Wave III Expanding?