Crude Oil | What Is the Current Wave Structure Telling Us?Crude Oil SpotCAPITALCOM:USOILMehdi_Abbasi_EWP⏱️ Reading time: about 2 minutes In our previous oil analysis, the main question was: What structure is the market building? Now, after a few more days of price action, the internal structure is giving us more information. In the previous analysis, we looked at the advance as a possible part of a higher-degree Wave III, with 105.80 as an important confirmation level. In this update, the internal structure is becoming more detailed. The recent move can now be viewed as a sequence of Wave 1 and Wave 2, followed by the development of Wave 3. The latest correction is also showing the characteristics of a three-wave corrective structure. In the bullish scenario, holding this structure could keep the path open for further development of Wave 3. For now, 102.996 is the current confirmation level, while 104.753 is the first important structural target. If the bullish structure continues, 127.970, 142.314, 151.066, and 165.653 can be monitored as the next reference areas. But there is another important point. If the market moves into a deeper decline, a three-cycle structure could become relevant again. However, for that scenario to develop into a larger-degree bearish structure, the market would need to decline much further. In that case, 79.347 and then 72.423 become important levels to watch, while 54.877 remains a major boundary for the larger bullish structure. So compared with the previous analysis, the main question has not changed: “Where is the market going?” is still not the question we are trying to answer. The real question is: “What is the current structure developing into?” A few days of price action do not necessarily change the larger scenario. Sometimes, they simply help us see what is happening inside the structure more clearly. We don't follow predictions. We follow structure. Patterns whisper, and I listen. — Mr. Nobody 🎧📊 Brent Crude Oil 4 days ago Brent Crude Oil | Is Wave III Expanding? WTI Crude OIL vs US Dollar 3 days ago Crude Oil | Is Wave 3 Expanding?