{"id":15833,"date":"2025-10-03T21:35:10","date_gmt":"2025-10-03T21:35:10","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=15833"},"modified":"2025-10-03T21:35:12","modified_gmt":"2025-10-03T21:35:12","slug":"crude-oil-slipping-lower","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/crude-oil-slipping-lower\/","title":{"rendered":"Crude Oil Elliott Wave: Slipping Lower Ending Diagonal Pattern"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Crude oil has been declining since June in a final terminal wave.<\/li>\n\n\n\n<li>Crude oil appears to be nearing the end of its 2-year ending diagonal pattern.<\/li>\n\n\n\n<li>Downside targets are between $51.77 &#8211; 57.38.<\/li>\n<\/ul>\n\n\n\n<p>Earlier this week, Crude Oil\u2019s price dropped below a support shelf at $61.45 trading down to a temporary low of $60.40. The downside trend appears to be incomplete.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Current Elliott Wave Analysis<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"794\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/USOIL_2025-10-03_16-26-23-1024x794.png\" alt=\"\" class=\"wp-image-15834\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/USOIL_2025-10-03_16-26-23-1024x794.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/USOIL_2025-10-03_16-26-23-300x232.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/USOIL_2025-10-03_16-26-23-768x595.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/USOIL_2025-10-03_16-26-23.png 1173w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>We are tracking a large ending diagonal pattern in Crude oil that began 2 years ago in September 2023. The ending diagonal is one of the five basic <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott wave patterns<\/a> and is shaped like a <a href=\"https:\/\/alchemymarkets.com\/education\/strategies\/falling-wedge-pattern\/\">falling wedge<\/a>.<\/p>\n\n\n\n<p>Ending diagonals develop in five waves and four of those waves are complete. Each of the waves would form as a zigzag or multiple zigzag pattern.<\/p>\n\n\n\n<p>Zooming in on the current wave 5, it appears a double zigzag pattern is developing and crude oil prices are currently in wave (c) of ((y)) of 5.<\/p>\n\n\n\n<p>The decline below the <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">support shelf<\/a> at $61.45 should continue to work lower.<\/p>\n\n\n\n<p>There is a cluster of wave relationships, using the <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-extensions\/\">Fibonacci extension tool<\/a>, appearing between $51.77 &#8211; $57.38 (yellow box).<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Wave ((y)) = ((w)) at $57.38<\/li>\n\n\n\n<li>Wave (c) = (a) at $57.37 and 1.618 x (a) at $51.77<\/li>\n\n\n\n<li>Previous wave 3 low at $55.39<\/li>\n\n\n\n<li>Wave (C) = 0.618 x (A) at $54.20<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>Crude oil appears to be nearing the end of a large ending diagonal pattern that began September 2023. We estimate a downside target, using Elliott wave principles, to be $51.77 &#8211; 57.38<\/p>\n\n\n\n<p>If Crude oil rallies above $67, then we\u2019ll need to reconsider the Elliott wave count. Until then, we are focused on an incomplete bearish pattern that may drive prices below $57.38.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Discover the latest Crude Oil Elliott Wave analysis, including current trend and potential target price levels.<\/p>\n","protected":false},"author":160,"featured_media":15837,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-15833","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Crude Oil Elliott Wave: Slipping Lower Ending Diagonal Pattern - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Discover the latest Crude Oil Elliott Wave analysis, including current trend and potential target price levels.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/crude-oil-slipping-lower\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crude Oil Elliott Wave: Slipping Lower Ending Diagonal Pattern - 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