OIL (CL_F) Elliott Wave : Calling the Decline From the Equal Legs Area

Hello traders. In this technical article we’re going to look at the Elliott Wave charts of Oil commodity (CL_F) published in members area of the website. OIL has recently given us a 3 waves recovery that found sellers precisely at the equal legs area as we expected. In this discussion, we’ll break down the Elliott Wave pattern and forecast.

OIL Elliott Wave 1 Hour Chart 08.25.2025

OIL is giving us correction against the 70.58 peak. We expect to see another leg up toward 64.68-66.01 area to complete a 3 waves (a)(b)(c) pattern. Our members know that we identify potential reversal zones using the Equal Legs technique. As long as the price stays within this region, we expect sellers to take control and push it down toward new lows. We recommended that members avoid buying the OIL at this stage, while favoring the short side.

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OIL Elliott Wave 1 Hour Chart 08.27.2025

A 2 days later, we can see the result. OIL reached the proposed equal legs area and found sellers, as expected. We got a decent reaction from the sellers’ zone. The recovery peaked at 65.1. As long as it remains below that high, the next leg down may be in progress

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room

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Source: https://elliottwave-forecast.c...