🚨 Good Morning
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🛢️ Crude Oil Futures
$CL_F continue to favour a bullish outlook despite the current pullback. The decline from the Wave 1 peak appears to be unfolding as a completed 5-wave structure in wave ((a)), while the ongoing rebound in wave ((b)) looks mature.
📉 We anticipate another 5-wave decline in wave ((c)) to complete the larger 3-swing correction in red wave 2 before the broader uptrend resumes.
✅ As long as price remains above 86.81, the bullish count stays intact and further upside is favoured.
⚠️ A break below 86.81 would suggest the cycle from the 07.02.2026 low has already completed, opening the door for a larger-degree corrective phase.
📊 Watch the key support closely as the next opportunity may emerge once wave ((c)) completes.
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