Two oil barrels on ground by Phototreat via iStock

Crude Oil May Face A Corrective Pullback

Gregor Horvat Wavetraders Fri Jun 20, 5:06AM CDT
Two oil barrels on ground by Phototreat via iStock

Crude oil has turned around sharply up after breaking below 60 dollars per barrel back in April, and what we’re seeing now is an impulsive five-wave rally as Israel attacks Iran. This situation can just get worse, so energy can stay up, therefore more upside is expected after a new ABC corrective pause, which can retrace the price back to 67 support area.

Crude Oil May Face A Corrective Pullback Crude Oil 4H Chart
Crude Oil 4H Chart
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For a detailed view and more analysis like this you may want to watch below our latest recording of a live webinar streamed on June 16, 2025:

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