{"id":27153,"date":"2026-05-18T16:21:30","date_gmt":"2026-05-18T16:21:30","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=27153"},"modified":"2026-05-18T16:21:32","modified_gmt":"2026-05-18T16:21:32","slug":"crude-oil-pattern-points-higher","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/sv\/education\/market-insights\/elliott-wave\/crude-oil-pattern-points-higher\/","title":{"rendered":"Crude Oil Elliott Wave Pattern Points Higher"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Crude oil reached <strong>$107.46<\/strong> then fell back to <strong>$88.66<\/strong><\/li>\n\n\n\n<li>The current pattern suggests a rally above $111 to $113 and possibly<strong> $124.<\/strong><\/li>\n\n\n\n<li>A print below <strong>$97.23<\/strong> would delay this forecast.<\/li>\n<\/ul>\n\n\n\n<p>Our <a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/equal-wave-pattern-crude-oil\/\">previous analysis on May 1<\/a> forecasted a rally to $106 followed by a dip and another rally above $111. The first two legs of this sequence have completed (rally to $106 then dip), now crude oil appears poised to rally above $111.<\/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=\"645\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/05\/USOIL_2026-05-18_11-15-41-1024x645.png\" alt=\"\" class=\"wp-image-27154\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/05\/USOIL_2026-05-18_11-15-41-1024x645.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/05\/USOIL_2026-05-18_11-15-41-300x189.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/05\/USOIL_2026-05-18_11-15-41-768x484.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/05\/USOIL_2026-05-18_11-15-41.png 1510w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The current <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott wave<\/a> pattern shows crude oil may be in the beginning stages of a wave (iii) rally.<\/p>\n\n\n\n<p>We anticipate this wave (iii) rally will carry above $111, possibly to near $113. Wave (iii) is equal to (i) near $113, this is a common <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-extensions\/\">Fibonacci extension<\/a>.&nbsp;<\/p>\n\n\n\n<p>When wave (v) of the current impulse completes, crude oil might be trading near $124. Therefore, it appears crude oil may be supported in pricing for the next few days.<\/p>\n\n\n\n<p>If crude oil prices were to falter down to $97.23, then it would suggest the start of wave (iii) was delayed and wave (ii) was still ongoing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>Crude oil appears to be on the front edges of a wave (iii) rally. If correct, then a swift rally may be underway to $113 and possibly $124.<\/p>\n\n\n\n<p>If crude oil prices fall back below $97.23, then wave (iii) is delayed and wave (ii) is still ongoing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Discover the latest Crude Oil Elliott Wave analysis, including key resistance levels and price targets.<\/p>\n","protected":false},"author":160,"featured_media":27160,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-27153","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 Pattern Points Higher - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Discover the latest Crude Oil Elliott Wave analysis, including key resistance levels and price targets.\" \/>\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\/sv\/education\/market-insights\/elliott-wave\/crude-oil-pattern-points-higher\/\" \/>\n<meta property=\"og:locale\" content=\"sv_SE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crude Oil Elliott Wave Pattern Points Higher - 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