Crude Oil Market Analysis 2026.04.30 WTI The initial view on crude oil was a simple three-wave decline, with a drop below 75.6 completing the pullback before taking off again. However, on April 17, it dropped to 78.8, followed by a sharp rebound, and the daily candlestick closed above the Gann angle line 2/1 (this line is the dividing point between strong and weak trends). As a result, most of the short positions were closed at that time, and cost protection was applied to the remaining positions. In the video shares on April 18 and April 24, the subsequent outlook for crude oil was mentioned—forming a strong horizontal adjustment/converging pattern, breaking the previous high after completing the adjustment. This view remains unchanged. The next key levels to watch are: 1. Gann angle line 4/1, around 106.45. Breaking this level will increase the likelihood of the adjustment being over. 2. Previous high at 112.585. Breaking this level confirms the end of the adjustment, with a high probability of starting a new upward trend. 3. Historical high at 126.347. Breaking this level confirms that the movement from 54.8 is a new trend upward rather than a large-scale rebound. However, reaching this level also signifies that the new upward trend is already halfway through. After the subsequent upward trend ends, crude oil will begin a new downward trend, which will last for a very long time. Refer to the chart showing the movement from 126.347 to 54.8.